The U.S. national average price for a gallon of regular gasoline rose above $4 for the first time since August 2022, reaching $4.018 on March 31, 2026, according to AAA. The price increase followed a month-long upward trend that began in late February when the national average stood at $2.98 per gallon.

Brent crude futures reached $117 per barrel in trading on March 30, 2026, marking the first time crude prices exceeded $100 per barrel since summer 2022. The oil price surge coincided with disrupted shipping through the Strait of Hormuz, a waterway through which approximately 20% of the world's oil supply flows.

The White House announced emergency measures to address rising fuel costs. The administration ordered 173 million barrels of oil from the Strategic Petroleum Reserve and will temporarily lift restrictions on E10 and E15 gasoline. Waivers allowing gasoline blended with 15% ethanol to be sold will take effect on May 1, 2026, and remain in place until May 20, 2026.

"This emergency action will provide American families with relief by increasing fuel supply and consumer choice," Environmental Protection Agency Administrator Lee Zeldin said. White House Press Secretary Karoline Leavitt addressed the price increases in a statement. "As for the temporary short-term fluctuation in gas prices, the president has said that once these combat operations are over, this administration is going to continue to unleash energy dominance. We're continuing to do that every day, and we're going to see prices go back down at the pump as we have the past year because of this president," Leavitt said.

Gas prices varied across states on March 31, 2026. California recorded the highest average at $5.89 per gallon, while Oklahoma had the lowest at $3.27 per gallon, according to AAA. Oregon and Nevada both approached $5 per gallon, while Texas averaged approximately $3.678 per gallon. New York and New Jersey remained below the $4 threshold.

"If you're a specialty retailer in a single market, higher gas prices mean fewer shopping trips and more cautious spending when customers do show up," retail analyst Carol Spieckerman said. "By comparison, retailers like Walmart that serve as convenient one-stop shops and offer delivery in many areas will benefit. Amazon, which requires no travel at all, obviously gains ground."

Since March 12, 2026, several Western states from Washington to Arizona have maintained average gas prices exceeding $4 per gallon. The transition to summer-grade gasoline formulations, which are more expensive to produce, typically contributes to seasonal price increases during spring months.