Average Gas Price Hits $4 per Gallon for First Time Since 2022

The average price of a gallon of regular gasoline in America broke $4 on Tuesday, according to the American Automobile Association (AAA).

The Details: The figure is up by over a dollar from February 28, when the US and Israel began their military operations against Iran. It's the highest gas prices have been since 2022 when prices reached over $5 per gallon on average. The price of premium gas currently sits around $4.90, while diesel is around $5.45.

For Context: The price hike comes as the Strait of Hormuz remains closed to most vessels, and the Trump administration and Iran have struggled to reach a diplomatic solution for opening it. On March 11, the International Energy Agency (IEA) said its member countries would release 400 million barrels of oil from their emergency stocks to try to bring down oil prices. On March 13, the US struck over 90 targets on Kharg Island, Iran's main oil processing hub. On March 20, the US lifted sanctions on 140 million barrels of Iranian oil that were already loaded on vessels at sea. On March 29, President Trump said he wants to seize Iranian oil, though he previously said the US does not need it. 

Previous Admin Rhetoric: On March 5, Trump said he was not concerned about rising gas prices. Previously, his administration touted when the AAA average gas price fell below $3 per gallon, saying it had kept one of its campaign promises.

How The Media Covered It: Many outlets from the left and center mentioned Trump in headlines, framing the rise as a political liability for his administration. Several outlets from the right also did, but less prominently and less frequently.

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