US National Gas Price Hits $4.02/Gallon — First Time Above $4 Since 2022

The US national average gasoline price reached $4.02 per gallon on March 31, crossing the $4 threshold for the first time since 2022. California averaged $5.87/gallon. The milestone arrived exactly 32 days into the Iran war, reflecting the compounding impact of Hormuz blockade, Brent crude at ~$107/bbl, and refinery constraints. Trump responded to media questions by telling European and Asian allies facing fuel shortages to 'go to the Strait and just TAKE IT,' saying the US 'won't be there to help you anymore.' Energy analyst Fereidun Fesharaki warned oil could reach $150–200/barrel if Hormuz remains near-closed for another 6–8 weeks. The IEA noted that every week of near-closure represents approximately 100 million barrels of oil not flowing through the Strait.