Name: Gas Prices Jump to Highest Levels Since August 2024
Uploaded: 2026-03-08T07:01:06.000Z
Description: AAA reports the national average for gas is now just over $3.40 a gallon. That’s an increase of 43 cents from a week ago, when it was at $2.98.

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AAA reports the national average for gas is now just over $3.40 a gallon. That’s an increase of 43 cents from a week ago, when it was at $2.98.

Diesel prices also rising more than 75 cents—to just over $4.50 a gallon.

The higher prices come as the Strait of Hormuz has been effectively shut down. The strait normally moves about 20 million barrels of oil per day to various parts of the world, making up nearly 20 percent of the world’s production.

When asked about the rising prices, U.S. President Donald Trump told Reuters he wasn’t concerned, saying prices will drop very rapidly when the war is over.

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