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Tue, 31 Mar 2026

Tue, 31 Mar 2026 US petrol price tops $4 for first time since 2022

The Iran war continues to push up prices at the pump for US motorists.

* The average price of gas at the pump has topped $4 in the US for the first time in nearly four years, reaching $4.02 per gallon.
* Diesel prices have also risen by around $1.70 since the war began.
* The Iran conflict is causing disruptions to energy production and transportation across the Middle East, leading to a surge in crude oil prices.
* Oil prices are on track for their biggest one-month rise on record, with Brent crude trading near $120 per barrel.
* Analysts warn that high gas prices could cause households to cut back on spending, increasing the risk of economic damage.
* The current price increase is expected to feed into higher food costs and may have a bigger impact on household budgets than previous price hikes.
* Some countries, including the UK, Sri Lanka, and Bangladesh, have introduced fuel rationing or other measures to help motorists cope with high prices.