Overview
- AAA reports diesel at $5.04 a gallon, the highest since December 2022, with prices up 34% since late February as the Iran conflict escalated.
- Regular gasoline now averages $3.79 nationally, up 27% in two weeks, with analysts warning prices could approach $4 if disruptions persist.
- Brent trades around $101 and U.S. crude near the mid‑$90s, roughly 40% above prewar levels, as tanker traffic through Hormuz is curtailed and strikes hit regional energy sites including the UAE’s Fujairah hub.
- The U.S. began a large Strategic Petroleum Reserve release of about 86 million barrels expected to reach markets by week’s end, while shippers and airlines add fuel surcharges and raise fares.
- Price pain is uneven: California’s average is about $5.54 (San Diego $5.81), metro Detroit stations have topped $4, and Georgia and Cincinnati saw sharp overnight jumps, with seasonal fuel shifts adding pressure; GasBuddy notes diesel’s largest two‑week spike on record, about $1.20.