Patrick De Haan, head of petroleum analysis at GasBuddy, projects the $4 milestone will be reached within 7 to 10 days. The forecast anticipates individual price increases between $0.15 and $0.45 per gallon, a jump fueled by both the re-imposition of U.S. blockades on Iran and systemic disruptions to Russian refining capacity in Ukraine.
U.S. Gasoline Prices Poised to Hit $4 Threshold
Drivers across the United States face a sharp return to higher costs at the pump as the national average gasoline price tracks toward $4 per gallon. A 12% surge in crude oil prices over three days, triggered by collapsing ceasefire talks and geopolitical instability, has ended a brief period of market relief.
As of July 14, AAA data placed the national average at $3.8590 per gallon, marking a steady climb from $3.79 just one week prior. Beyond standard gasoline, diesel costs are under similar pressure and may hit $5 per gallon as early as this Friday. Market volatility remains high as global supply constraints collide with renewed hostilities in the Middle East.
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