Gas Prices Have Risen 90 Cents in March—See What Drivers in Your State Are Paying Now

Core Insights - Gas prices have surged by 90 cents since March 1, primarily driven by the ongoing conflict in Iran, which has pushed oil prices higher [1][8] - The national average for regular gas has reached $3.88 per gallon, marking a 4-cent increase overnight and a total rise of 90 cents over 18 days [2][8] - The increase in gas prices is significant as it affects household budgets, with economist Joe Lavorgna noting that higher gas prices quickly erode household liquidity [3] Price Variations - Gas prices have exceeded $3 in every state, with three states reporting prices above $5 per gallon [6][9] - Oklahoma currently has the lowest gas price at $3.24 per gallon, while California leads with an average of $5.62 [6][9] - The spread between the cheapest and most expensive states is $2.38 per gallon, highlighting the sharp variations in gas prices across the country [9] Historical Context - The last time the national average gas price topped $5 per gallon was in June 2022, and currently, three states have crossed that threshold again [10] - The current surge in gas prices has made the differences in state prices more pronounced, reflecting structural factors such as taxation and distribution [11] Taxation Impact - Fuel taxes significantly contribute to the variation in gas prices, with federal and state taxes accounting for over 14% of the average price per gallon in 2023 [12] - States with higher gasoline taxes and fees show more pronounced differences in prices at the pump [12]