American gasoline prices increase most in one week since 2020

(The Center Square) – American gasoline prices continued to rise on Friday and are up the most of any week since 2022.

Iran widened attacks on energy-producing countries near its borders and the Strait of Hormuz remains closed to shipping, dashing hopes for a quick resolution to a crisis sending shockwaves through global markets. The United States last Saturday began a military campaign in Iran, one that has continued throughout the week with aggression.

Friday at 1 p.m. Eastern, the U.S. national average price for regular gasoline had jumped approximately 35.9 cents per gallon from the same time in the previous week, reaching approximately $3.34 per gallon, according to GasBuddy. The 12% rise from the previous Friday was the largest weekly increase since March 2022, when Russia’s invasion of Ukraine roiled global energy markets.

Gasoline prices in Indiana rose 44.3 cents during the week while drivers in Florida, Louisiana and Oklahoma had seven-day increases of 43.9 cents, 42.3 cents, and ...