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Key FactsFuel Costs Surge Amid Iran Conflict Disruptions
Mar 31, 2026 · Reading time: ~45 sec.
Summary created with AI assistance · Source: cbsnews.com
Summary created with AI assistance · Source: cbsnews.com
- Gasoline prices in the U.S. surpassed $4 per gallon for the first time since August 2022, reaching an average of $4.02.
- The increase is driven by the Iran war and interruptions of crude oil shipments through the Strait of Hormuz.
- Diesel prices also climbed to $5.45 per gallon, raising expenses for sectors like farming, construction, and freight transport.
- Government efforts to release oil reserves and ease regulations have not sufficiently addressed supply shortages or reduced fuel costs.
When Operation Epic Fury is complete, gas prices will plummet back to the multi-year lows American drivers enjoyed before these short-term disruptions.— White House press secretary Karoline Leavitt, told CBS News in an email on Tuesday
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