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US average fuel price passes $4 a gallon for first time in four years amid Iran war (www.theguardian.com)
submitted 7 months ago by to c/economics@lemmy.world
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National average hit $4.02, according to AAA data, capping an extraordinary rise from $2.98 just a month ago

Average US fuel prices have crossed $4 a gallon for the first time in four years, piling pressure on drivers as Donald Trump’s war on Iran continues to boost oil markets.

The nationwide average climbed to almost $4.02 on Tuesday, according to AAA data, capping an extraordinary rise from $2.98 just a month ago. The fuel price last reached this high in August 2022.

On the west coast, many drivers filling up cars and trucks are grappling with prices far higher than the US average. In California, the average is $5.89 a gallon; in Washington state, the average is $5.35.

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[–] 2 points 7 months ago

No, subsidies and domestic production and refinement are why it's less expensive than Europe.

The supply and demand argument would mean the "lack of demand" in Europe due to public transport and smaller cars should make it cheaper.

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