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Oil prices also rise; war in Iran is adding pressure on energy costs
The average price of a gallon of gasoline (3.78 liters) in the United States exceeded $4 on Tuesday, for the first time since 2022, according to the American Automobile Association (AAA).
According to CBS, the increase is one of the most tangible indicators of the impact the conflict in Iran is having on fuel costs for American drivers. The average price reached $4.018 per gallon, up from $3.990 the day before.
AAA reports that prices have risen sharply since February 28, when the US and Israel launched attacks on Iran, rising by more than $1 per gallon in a month.
The last time gasoline crossed the $4 threshold was in August 2022, while in June of that year it had temporarily surpassed $5 per gallon, following the rise in crude oil prices caused by the Russian invasion of Ukraine.
"This is not the $5 level, but drivers will see prices rise rapidly at the pump," Patrick De Haan, an oil market expert at GasBuddy, told CBS.
Increase also for diesel
Diesel prices also rose, reaching $5.454 a gallon on Tuesday, up from $5.416 a day earlier. The fuel is widely used in agriculture, construction and transporting goods by trucks, trains and ships.
Rising transportation costs, due to higher energy prices, could be passed on to consumers, warned Diane Swonk, chief economist at KPMG, in a statement to CBS News.
The Trump administration has taken several measures to curb prices, including releasing the strategic oil reserves and easing some regulations that affect the cost of petroleum products.
However, according to analysts cited by CBS News, these measures are not enough to compensate for supply shortages or significantly reduce the burden on American consumers.
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