Overview
- As of Monday the national regular-gasoline average sat near $4.10 per gallon with 31 states reporting averages above $4, leaving many drivers paying substantially more than a year ago.
- Diesel has climbed to about $5.50–$5.60 per gallon and stands within roughly 20–30 cents of its all-time U.S. record, sharply raising costs for trucking, freight and farm operations.
- Official Energy Information Administration data show small weekly increases in U.S. gasoline stocks and production while gasoline demand slipped, a mix of signals that leaves prices volatile.
- Analysts point to upstream supply strains — fighting tied to Iran, limits on shipments through the Strait of Hormuz and damage plus export curbs on Russian refining capacity — as the main forces keeping refined fuel tight.
- Local markets are diverging sharply, with Michigan down about 11 cents last week and the Twin Cities up roughly 18 cents, and analysts warn that persistent supply risks could push the national average to a Labor Day record, raising household and freight costs.