US gasoline prices soared in March 2026, with the EIA reporting an average of $3.638 per gallon ($0.96 per liter), the highest since September 2023. In addition, AAA data showed the national average hitting $4.02 per gallon by month-end, topping $4 for the first time since 2022, as the Middle East conflict disrupted global oil markets. Prices at the pump jumped by $1 per gallon in just one month following the US-Israel offensive against Iran, marking a 34.7% increase from February’s $2.98. This monthly surge exceeds even the spikes after Hurricane Katrina (2005) and Russia’s 2022 invasion of Ukraine, making it the sharpest rise in decades.

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