How High Are Gas Prices Where You Live?
The cost of fuel in the United States steadily ticked up after the U.S.-Israeli attacks on Iran began in February. Developments in the conflict — showing progress or not — have directly impacted the price of oil, which gasoline across the nation tracks.
But increases at the pump are not spread evenly, even if global energy supplies are stable. In California, where drivers typically pay the most for gas in the country, a gallon of regular unleaded has cost, on average, well over the national rate, according to the AAA motor club. In Oklahoma or Kansas, a gallon is usually well under.
The wide range is owed to regional differences in taxes, distribution costs and refining margins. But the common denominator is the supply of oil in the world.
Although the United States is a net exporter of petroleum products, it has to import millions of barrels a day of those commodities to refine, often mixed with our own domestic crude. The cost of those barrels is vulnerable to shockwaves in the global market.
Fuel prices are one of the most visible signs of the economy’s health, and can have an outsize impact on Americans’ wallets.
