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US retail gasoline price hits highest level since late 2023
The average retail price of a gallon of gasoline in the United States has risen to its highest level since late 2023, the American Automobile Association (AAA) reported, with the national pump price jumping to $3.79.
The main driver was the complete halt to crude shipments through the Strait of Hormuz following the start of US military operations in Iran. In California, the price per gallon was above the national average, standing at $5.54.
President Donald Trump authorized the immediate release of 40% of the Strategic Petroleum Reserve to counter the supply shortfall. The president publicly emphasized that foreign policy priorities and actions against Tehran are taking precedence over short‑term domestic retail energy price movements.
The global supply crisis is forcing governments to introduce emergency administrative measures to conserve resources. Sri Lankan authorities ordered state offices to move to a reduced working week, while the UK government is considering limits on petrol sales to private individuals.
Published 23 March 2026
© InstaFintech Group
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© InstaFintech Group
