March 10 (UPI) — The average price of a gallon of unleaded gas in the United States hit $3.54 on Tuesday as the Trump administration continues military action against Iran.
AAA reports the current average price for fuel is higher across all grades than it was a year ago. Diesel fuel is up more than 10 cents over Monday’s average, reaching $4.78 per gallon.
Prices are highest on the West Coast, as they typically are, with the highest average cost of a gallon of unleaded gas at $5.29 in California.
Tuesday’s average price marks the highest gas prices have been since July 2024.
Gas prices spiked following bombings in Iran by Israel and the United States on Feb. 28. On Feb. 26, the average price per gallon was $2.98 after months of mild fluctuation.
The price of a barrel of crude oil jumped from $91 to $116 on Sunday.
President Donald Trump urged that the increase in oil prices is temporary and a “small price to pay,” in a post on social media.
Iran has closed the Strait of Hormuz, a crucial route in the oil trade, due to the ongoing conflict with the United States and Israel. About 20% of the world’s oil is shipped through the strait.
Trump told CBS News that he “has thought about taking [the Strait of Hormuz] over.”
Rising gas prices have caused concern for Republicans on Capitol Hill. Senate Majority Leader John Thune, R-S.D., said he hopes to see “things can resume some sense of normalcy in that region in terms of shipping lanes.”
Sen. Lisa Murkowski, R-Alaska, has been more skeptical about the president’s strategy with Iran and its impact on oil prices.
“For heaven’s sakes, are you telling me you didn’t game this one out?” Murkowski told Punchbowl News. “I’m starting to think they didn’t game this one out.”