Oil Prices Fall—But Gas Prices Are Still Climbing. See What Your State Is Paying
Gas prices continue their upward trajectory despite a recent dip in oil prices. The national average for regular gas rose 6 cents overnight to $3.54 per gallon, marking a 56-cent increase since late February. This surge, driven by supply fears tied to the Iran conflict, has left only one state below $3 per gallon, while California drivers face prices well over $5.
The lag between oil price movements and pump prices means relief for consumers may be delayed. Crude oil purchases take days or weeks to reflect in gasoline prices, explaining why the recent oil pullback hasn't yet translated to lower costs at the pump.
Regional disparities remain stark, with price gaps exceeding $2 per gallon across states. Market watchers note this divergence highlights the complex interplay of refining capacity, taxes, and distribution costs in local fuel markets.
