Average USA Gasoline Price Nears $3.6 Per Gallon

The average regular gasoline price in the U.S. is $3.598 per gallon as of March 12, according to the AAA Fuel Prices website.

Yesterday’s average was $3.578 per gallon, the week ago average was $3.251 per gallon, the month ago average was $2.944 per gallon, and the year ago average was $3.080 per gallon, the site showed, outlining an increasing price trend for the fuel.

In a report sent to Rigzone on Wednesday by the Standard Chartered team, which was dated March 10, Standard Chartered Bank Energy Research Head Emily Ashford highlighted that the average U.S. retail gasoline price, as reported by the American Automobile Association, “has rallied strongly, moving from sub-$2.80 per gallon in early January, to exceed the psychological level of $3.50 per gallon in the latest daily data”.

“Prices are at their highest since September 2024, and this level is considered a notable pain level for the American consumer (and voter),” Ashford warned in that report.

In a blog posted on its website on March 9, GasBuddy highlighted that, according to GasBuddy data, the nation’s average price of gasoline had risen 51.1 cents over the last week and stood at $3.45 per gallon.

“The national average is up 54.1 cents from a month ago and is 41.6 cents per gallon higher than a year ago,” GasBuddy pointed out in that blog.

Patrick De Haan, head of petroleum analysis at GasBuddy, said in the blog, “in just a week, consumers have seen gasoline prices surge at one of the fastest rates in years after oil prices spiked following U.S. strikes on Iran and the effective closure of the Strait of Hormuz”.

“With additional attacks across the Middle East over the weekend pushing oil above $100 per barrel for the first time in years, fuel markets are now rapidly recalibrating to the risk of prolonged disruption to global supply flows,” he warned.

“As a result, gasoline prices in many states could climb another 20 to 50 cents per gallon this week, with price-cycling markets potentially seeing increases as early as today,” he added.

“While the situation remains highly fluid, consumers are already beginning to feel the impact as energy markets adjust to this sudden escalation,” he went on to state.

In this blog, GasBuddy noted that the most common U.S. gas price encountered by motorists stood at $3.19 per gallon, “up 40 cents from a week ago”. This was followed by $2.99, $3.49, $3.29, and $3.39, the blog highlighted.

The median U.S. gas price was $3.29 per gallon, according to the blog, which pointed out that the top 10 percent of stations in the country averaged $4.93 per gallon, while the bottom 10 percent averaged $2.88 per gallon.

The U.S. Energy Information Administration’s (EIA) latest gasoline fuel update, which was released on March 10, showed that the U.S. regular gasoline price averaged $2.937 per gallon on February 23, $3.015 per gallon on March 2, and $3.502 per gallon on March 9.

The March 9 price was $0.126 higher than the price two years ago, $0.433 higher than the year ago price, and $0.487 higher than the week ago price, the fuel update highlighted.

Of the five Petroleum Administration for Defense District (PADD) regions highlighted in the EIA’s latest fuel update, the West Coast was shown to have the highest U.S. regular gasoline price as of March 9, at $4.690 per gallon. The Gulf Coast was shown in the update to have the lowest U.S. regular gasoline price as of March 9, at $3.109 per gallon.

A glossary section of the EIA site notes that the 50 U.S. states and the District of Columbia are divided into five districts, with PADD 1 further split into three subdistricts. PADDs 6 and 7 encompass U.S. territories, the site adds.

To contact the author, email andreas.exarheas@rigzone.com