Overview
- National trackers on Monday showed the average price for regular gasoline around $4.31 per gallon and diesel at record averages near $6.18 to $6.23 per gallon.
- Many states saw rapid week‑over‑week jumps with Michigan, Utah and Wisconsin among the largest gainers and Georgia recording one of the biggest diesel increases.
- Analysts and price trackers point to overlapping geopolitical shocks — U.S.-Iran hostilities affecting the Strait of Hormuz, Houthi moves in the Red Sea, the Saudi East‑West pipeline closure, attacks on Russian refineries and Russian diesel export curbs — as the immediate drivers tightening flows.
- Third‑party estimates put the extra cost to Americans in the tens of billions since March, with GasBuddy estimating about $109.2 billion and a Brown University tracker estimating roughly $46 billion tied to diesel, pressures that are already filtering into higher grocery and shipping costs.
- U.S. refiners are operating near capacity and distillate inventories are at multi‑year lows which, together with prediction‑market odds that prices may climb further, leave little near‑term relief visible.