New Yorkers are feeling the impact of rising gas prices.
The cost of regular unleaded gasoline has surged to an average of $3.58 per gallon in the city as of Saturday, climbing from $2.86 just three weeks prior, as reported by GasBuddy.
In some parts of the area, gas stations are already approaching the $4 per gallon mark.
This spike is attributed to the shutdown of one-fifth of the world’s oil supply after Iran blockaded the Strait of Hormuz in response to the US and Israeli bombing campaign that started on February 28.
Nationally, the average price at the pump has risen by 26 cents in the past week, reaching $3.68 on Saturday, marking a 70-cent increase since the conflict began, according to data from AAA.
The last time Americans experienced similar prices was in May 2024, when the day before the initial strikes, a gallon of regular was priced at a more manageable $2.98.
With a barrel of crude oil selling for little more than $100, and the US shifting to summer-blend gasoline, which burns cleaner but costs more to produce, the end of the price surge might not be near.
President Trump on Wednesday ordered the release of 172 million barrels from the US Strategic Petroleum Reserve, the biggest such release in American history.
The US burns through roughly 20 million barrels of petroleum every single day, yet the emergency dump will only cover just over eight days of domestic demand.
