Overview
- AAA reports the national average for regular gas eased to $4.093, marking six decreases in the past seven days after a sharp run-up through March.
- Week-over-week relief is most notable in the Midwest, with AAA data showing the largest drops in Indiana, Michigan, and Ohio.
- Minnesota drivers are paying $3.71 on average for regular gas, which is below the national level, while diesel there has jumped 47% from a year ago to $5.10.
- Analysts link recent volatility to the U.S.–Iran war and risks near the Strait of Hormuz, with one outlet reporting a U.S. blockade of Iranian ports that has added to supply concerns.
- Bank of America says pump spending rose 3% in the first quarter and 16% in March without a broad pullback elsewhere, as officials split on the summer outlook with Treasury’s Scott Bessent eyeing a possible move toward $3 gas and Energy Secretary Chris Wright warning prices could keep rising.