Overview
- AAA’s national average for regular gasoline reached about $4.54 per gallon Wednesday, the highest since mid‑2022 and roughly 50% above pre‑war levels.
- U.S. fuel exports hit a record 8.2 million barrels per day in the latest EIA report as producers filled global gaps, and government data showed crude, gasoline and diesel stocks fell.
- Disrupted traffic through the Strait of Hormuz, a corridor that once carried about one‑fifth of the world’s seaborne oil, has tightened supply and raised costs that flow through to U.S. pumps.
- Price pain is uneven, with California averaging about $6.16 per gallon and one South San Francisco station posting $7.89 for regular, while lower‑cost states like Louisiana hover near $4.
- Analysts say pump prices will ease slowly even if crude falls or the waterway reopens because stations sell through higher‑priced inventories and damaged regional infrastructure will take months to repair.