In a weblog posted on its web site on Monday, GasBuddy outlined that U.S. gasoline and diesel costs had “surge[d] as Center East tensions stay excessive”.
“The nation’s common value of gasoline has risen 23.2 cents over the past week and stands at $3.68 per gallon,” GasBuddy said within the weblog.
“The nationwide common is up 80.0 cents from a month in the past and is 66.1 cents per gallon greater than a yr in the past. The nationwide common value of diesel rose 34.0 cents within the final week and stands at $4.951 per gallon,” it added.
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GasBuddy revealed within the weblog that the commonest U.S. gasoline value encountered by motorists stood at $3.49 per gallon, “up 30 cents from per week in the past”. This was adopted by $3.59, $3.39, $3.29, and $3.69, in accordance with the weblog, which famous that the median U.S. gasoline value was $3.49 per gallon, “up 20 cents from final week and about 19 cents decrease than the nationwide common”.
The highest 10 p.c of stations within the nation common $5.28 per gallon, whereas the underside 10 p.c common $3.10 per gallon, GasBuddy famous.
In accordance with the weblog, the commonest U.S. diesel value stood at $4.99 per gallon, which GasBuddy highlighted was unchanged from final week. This was adopted by $4.79, $4.69, $4.89, and $4.49, the weblog revealed.
The median U.S. diesel value was $4.99 per gallon, “up 40 cents from final week and about two cents greater than the nationwide common”, GasBuddy outlined. Diesel costs on the prime 10 p.c of stations within the nation common $5.68 per gallon, in accordance with the weblog, which famous that the underside 10 p.c common $4.23 per gallon.
“Shoppers proceed to really feel the sting of rising oil, gasoline, and diesel prices as geopolitical tensions within the Center East stay elevated, pushing gasoline costs to their highest ranges in years whereas diesel might quickly method the $5 per gallon mark nationally,” Patrick De Haan, head of petroleum evaluation at GasBuddy, warned within the weblog.
“Till we see a significant resumption of oil flows by the Strait of Hormuz, upward strain on gas costs is more likely to persist,” he added.
“On the identical time, seasonal forces are starting to accentuate as a number of areas full the transition to summer time gasoline, making a double headwind that might proceed driving pump costs greater within the weeks forward,” De Haan continued.
EIA Gasoline, Diesel Projections
In its newest quick time period power outlook (STEO), which was launched on March 10, the U.S. Vitality Info Administration (EIA) elevated its U.S. gasoline and diesel value forecasts for each 2026 and 2027.
In accordance with its March STEO, the EIA now sees the U.S. common gasoline retail value averaging $3.34 per gallon in 2026 and $3.18 per gallon in 2027. In its earlier STEO, which was launched in February, the EIA projected that the U.S. common gasoline retail value would are available at $2.91 per gallon this yr and $2.93 per gallon subsequent yr.
The EIA’s March STEO sees the U.S. on-highway diesel gas value averaging $4.12 per gallon in 2026 and $3.78 per gallon in 2027. In its February STEO, the EIA projected that the U.S. on-highway diesel gas value would common $3.43 per gallon this yr and $3.47 per gallon subsequent yr.
“The U.S. common retail gasoline value in our forecast averages $3.58 per gallon in March,” the EIA mentioned in its newest STEO.
“Relative to final month’s STEO, greater crude oil costs contribute to gasoline costs which can be 60 cents per gallon greater in March and about 70 cents per gallon greater within the second quarter of 2026,” it added.
“Costs decline within the third and fourth quarters, falling again near $3.00 per gallon by the tip of the yr. Our annual common forecast for retail gasoline costs in 2026 is now $3.34 per gallon,” it continued.
“In 2027, we count on annual common retail gasoline costs to fall under $3.20 per gallon. Our 2027 forecast is up 25 cents per gallon in contrast with our February STEO,” it mentioned.
In its March STEO, the EIA said that crude oil costs usually represent round half the whole retail value of gasoline.
“Different components embody, however are usually not restricted to, refinery margins (subtracting crude oil price from the refined product value) and retail margins (subtracting wholesale gasoline price from the pump value),” it highlighted.
“Though we count on many of the gasoline value enhance to be handed by to the retail value within the coming weeks, we additionally count on that the normalization of refining and retail margins will happen extra slowly,” it added.
“The web impact can be continued upward strain within the second quarter that lags behind the preliminary enhance,” it mentioned.
“Effectively above-average seasonal gasoline inventories reported in our Weekly Petroleum Standing Report help our outlook for greater inventories of gasoline in 2026, which contributes to some downward strain on refiner and retail margins,” the EIA continued.
Present Costs
In accordance with the AAA Gas Costs web site, as of March 17, within the U.S., the typical common gasoline value is $3.790 per gallon and the typical diesel value is $5.044 per gallon.
Yesterday’s gasoline value common was $3.718 per gallon, the week in the past common was $3.539 per gallon, the month in the past common was $2.917 per gallon, and the yr in the past common was $3.078 per gallon, the positioning confirmed.
Yesterday’s diesel value common was $4.988 per gallon, the week in the past common was $4.780 per gallon, the month in the past common was $3.651 per gallon, and the yr in the past common was $3.592 per gallon, the positioning highlighted.
The best recorded common value of standard gasoline was seen on June 14, 2022, at $5.016 per gallon, and the very best recorded value of diesel was seen on June 19, 2022, at $5.816 per gallon, the AAA web site outlined.
To contact the creator, e mail andreas.exarheas@rigzone.com
