U.S. Average Gas Price Tops $4.50 per Gallon for First Time Since 2022

U.S. drivers now pay an average of more than $4.50 per gallon for regular gasoline, the first time the national figure has reached that level since 2022. The price has climbed 52 percent since the start of the US-Israel conflict with Iran, adding $1.56 per gallon compared with pre-war levels.

Data from the American Automobile Association and other trackers show the latest weekly jump reached 31 cents.

The price of a gallon of regular petrol climbed 31 cents in the past week to an average of $4.48 per gallon, according to the American Automobile Association. Separate reports indicate the figure has now crossed $4.50. Gas prices are 52 percent higher than before the Iran conflict began, with drivers paying $1.56 more per gallon.

The surge follows supply disruptions tied to the US-Israel war on Iran. Multiple outlets report the conflict has raised costs across fuel markets. European natural gas traders have responded by hedging against possible price spikes, with some options contracts priced at double current levels for the coming winter.

In the UK, diesel prices rose 36.5 percent over nine weeks, pushing the cost of a typical 70-litre fill-up from £98.50 to £134.50. Petrol prices also increased, though at a slower 20.3 percent rate over the same span.

Higher fuel costs have prompted concerns among UK motorists, especially those in rural areas who rely on vehicles for work. Land Rover Monthly publisher Steve Miller noted that fuel expenses now rank among the top frustrations for owners of 4x4 vehicles. No additional price rises were announced for the UK market after stronger-than-expected first-quarter sales.

Options trading data compiled by Bloomberg shows some European traders locking in prices up to $117 per megawatt-hour for the winter refill season. Current prices hover near $53 per megawatt-hour. The pattern reflects fears that Middle East supply issues will persist through the peak demand months.