The average price of a gallon of gasoline (about 3.8 liters) reached $3.699 (3.24 euros) on Sunday. Such a price has not been seen in the United States since September 2023.
Fulfilling his promise to improve the purchasing power of Americans in November 2024, could Donald Trump be caught in the trap of his war against Iran? Since the first American and Israeli strikes against Tehran on February 28, oil prices have soared and hit the pump, especially in the United States. Fuel prices across the Atlantic have been steadily rising for the past two weeks.
According to the latest data from the American Automobile Association (AAA) as of Sunday, March 15, the average price of a gallon of unleaded gasoline (about 3.8 liters) has now reached $3.699 today, which is $0.97 per liter (0.85 euros). It was averaging $2.98 at the end of February. Within two weeks, the average pump price has surged by over 70 cents, a 24% increase. In comparison, in France, the price of diesel has risen by 18%, and that of unleaded 95-E10 has increased by 8%.
Such a price at the pump has never been seen in the United States since September 2023. For American consumers, the increase is steep. Additionally, as CNBC notes, the national average price of gasoline had reached “its lowest level since 2021” earlier this year. However, it still remains far from the record prices seen in the months following Russia’s invasion of Ukraine in February 2022. The peak was reached in June 2022, with an average gallon of gasoline priced at $5.
Context: Gasoline prices in the United States have surged to levels not seen since 2023, raising concerns among consumers about the impact on their budgets.
Fact Check: Donald Trump’s policies and geopolitical tensions are contributing factors to the increase in gas prices observed in the United States.
Note: The article also discusses the variation in gas prices across different states in the US and globally.
