Fuel prices are surging in the United States, hitting highs not seen in nearly a decade and a half. The average cost of a gallon of regular gasoline now stands at $4.06, 62 cents more than just one month ago.
The price spike is due to several factors. Most notably, the Russian invasion of Ukraine is leading to reduced supply of oil and gas, as many would-be buyers are boycotting Russian oil. Russia is traditionally the third largest oil supplier in the world, accounting for 11% of global production. Here is a look at the 15 countries that control the world’s oil.
Even before the outbreak of war in Eastern Europe, fuel prices were on the rise. The ongoing reopening of the U.S. economy has contributed to rising demand for fuel – and to broader inflation concerns. Meanwhile, domestic supply of fuel has been limited, as oil companies have cut investments in new wells in recent years to improve profitability.
Exactly how quickly gas prices are rising varies across the country. Using fuel price data from AAA, the American Automobile Association, 24/7 Wall St. identified the states where gas prices are rising the fastest. States are ranked by the month-over-month change in the average price of a gallon of regular gasoline, in dollars, from Feb. 7, 2022, to March 7, 2022. Depending on the state, gas prices are now anywhere from 29 cents to 75 cents higher than they were one month ago.
The total price motorists pay at the pump is the product of several factors, including the price of crude oil – largely determined by global supply and demand – and taxes. The U.S. government levies a gasoline tax of 18.4 cents per gallon, while states are free to set their own gas tax rate. State gas taxes and fees average about 30 cents per gallon. Here is a look at the states with the highest gas taxes.
Click here to see the states where gas prices are rising fastest
50. Hawaii
> 1-month change in avg. gas price: +$0.29 per gallon (+6.7%)
> Avg. price of gas, March 7: $4.70 per gallon (2nd highest)
[in-text-ad]
49. Montana
> 1-month change in avg. gas price: +$0.39 per gallon (+11.5%)
> Avg. price of gas, March 7: $3.80 per gallon (14th lowest)
24/7 Wall St.
48. Wyoming
> 1-month change in avg. gas price: +$0.40 per gallon (+12.0%)
> Avg. price of gas, March 7: $3.74 per gallon (10th lowest)
47. South Dakota
> 1-month change in avg. gas price: +$0.43 per gallon (+13.1%)
> Avg. price of gas, March 7: $3.70 per gallon (5th lowest)
[in-text-ad-2]
46. Colorado
> 1-month change in avg. gas price: +$0.43 per gallon (+13.0%)
> Avg. price of gas, March 7: $3.75 per gallon (12th lowest)
45. North Dakota
> 1-month change in avg. gas price: +$0.44 per gallon (+13.4%)
> Avg. price of gas, March 7: $3.73 per gallon (9th lowest)
[in-text-ad]
44. Idaho
> 1-month change in avg. gas price: +$0.44 per gallon (+12.6%)
> Avg. price of gas, March 7: $3.96 per gallon (25th highest)
43. Utah
> 1-month change in avg. gas price: +$0.48 per gallon (+14.3%)
> Avg. price of gas, March 7: $3.86 per gallon (18th lowest)
42. Arizona
> 1-month change in avg. gas price: +$0.49 per gallon (+13.3%)
> Avg. price of gas, March 7: $4.13 per gallon (14th highest)
[in-text-ad-2]
41. Iowa
> 1-month change in avg. gas price: +$0.49 per gallon (+15.1%)
> Avg. price of gas, March 7: $3.72 per gallon (6th lowest)
40. Minnesota
> 1-month change in avg. gas price: +$0.49 per gallon (+14.9%)
> Avg. price of gas, March 7: $3.77 per gallon (13th lowest)
[in-text-ad]
39. Washington
> 1-month change in avg. gas price: +$0.49 per gallon (+12.5%)
> Avg. price of gas, March 7: $4.45 per gallon (5th highest)
24/7 Wall St.
38. Nebraska
> 1-month change in avg. gas price: +$0.50 per gallon (+15.5%)
> Avg. price of gas, March 7: $3.73 per gallon (8th lowest)
37. Missouri
> 1-month change in avg. gas price: +$0.51 per gallon (+16.5%)
> Avg. price of gas, March 7: $3.63 per gallon (the lowest)
[in-text-ad-2]
36. Kansas
> 1-month change in avg. gas price: +$0.52 per gallon (+16.4%)
> Avg. price of gas, March 7: $3.68 per gallon (3rd lowest)
35. Oklahoma
> 1-month change in avg. gas price: +$0.53 per gallon (+17.1%)
> Avg. price of gas, March 7: $3.65 per gallon (2nd lowest)
[in-text-ad]
34. Florida
> 1-month change in avg. gas price: +$0.54 per gallon (+15.6%)
> Avg. price of gas, March 7: $4.01 per gallon (21st highest)
33. Vermont
> 1-month change in avg. gas price: +$0.56 per gallon (+16.0%)
> Avg. price of gas, March 7: $4.05 per gallon (19th highest)
32. Ohio
> 1-month change in avg. gas price: +$0.57 per gallon (+17.3%)
> Avg. price of gas, March 7: $3.83 per gallon (17th lowest)
[in-text-ad-2]
31. Oregon
> 1-month change in avg. gas price: +$0.58 per gallon (+14.8%)
> Avg. price of gas, March 7: $4.51 per gallon (4th highest)
30. New Mexico
> 1-month change in avg. gas price: +$0.59 per gallon (+18.0%)
> Avg. price of gas, March 7: $3.89 per gallon (23rd lowest)
[in-text-ad]
29. Arkansas
> 1-month change in avg. gas price: +$0.60 per gallon (+19.2%)
> Avg. price of gas, March 7: $3.69 per gallon (4th lowest)
24/7 Wall St.
28. West Virginia
> 1-month change in avg. gas price: +$0.60 per gallon (+18.3%)
> Avg. price of gas, March 7: $3.89 per gallon (22nd lowest)
27. Alaska
> 1-month change in avg. gas price: +$0.62 per gallon (+16.3%)
> Avg. price of gas, March 7: $4.40 per gallon (6th highest)
[in-text-ad-2]
26. Texas
> 1-month change in avg. gas price: +$0.62 per gallon (+20.0%)
> Avg. price of gas, March 7: $3.73 per gallon (7th lowest)
25. Pennsylvania
> 1-month change in avg. gas price: +$0.62 per gallon (+17.3%)
> Avg. price of gas, March 7: $4.24 per gallon (10th highest)
[in-text-ad]
24. Wisconsin
> 1-month change in avg. gas price: +$0.62 per gallon (+19.5%)
> Avg. price of gas, March 7: $3.83 per gallon (17th lowest)
23. Maine
> 1-month change in avg. gas price: +$0.63 per gallon (+18.1%)
> Avg. price of gas, March 7: $4.09 per gallon (17th highest)
22. Indiana
> 1-month change in avg. gas price: +$0.63 per gallon (+18.8%)
> Avg. price of gas, March 7: $3.99 per gallon (22nd highest)
[in-text-ad-2]
21. Michigan
> 1-month change in avg. gas price: +$0.66 per gallon (+19.6%)
> Avg. price of gas, March 7: $4.03 per gallon (20th highest)
20. California
> 1-month change in avg. gas price: +$0.66 per gallon (+14.2%)
> Avg. price of gas, March 7: $5.34 per gallon (the highest)
[in-text-ad]
19. Mississippi
> 1-month change in avg. gas price: +$0.66 per gallon (+21.5%)
> Avg. price of gas, March 7: $3.75 per gallon (11th lowest)
18. New Jersey
> 1-month change in avg. gas price: +$0.67 per gallon (+19.2%)
> Avg. price of gas, March 7: $4.17 per gallon (12th highest)
17. New York
> 1-month change in avg. gas price: +$0.67 per gallon (+18.8%)
> Avg. price of gas, March 7: $4.26 per gallon (9th highest)
[in-text-ad-2]
16. Kentucky
> 1-month change in avg. gas price: +$0.68 per gallon (+21.7%)
> Avg. price of gas, March 7: $3.81 per gallon (15th lowest)
15. Illinois
> 1-month change in avg. gas price: +$0.69 per gallon (+19.0%)
> Avg. price of gas, March 7: $4.30 per gallon (7th highest)
[in-text-ad]
14. Louisiana
> 1-month change in avg. gas price: +$0.69 per gallon (+21.8%)
> Avg. price of gas, March 7: $3.87 per gallon (20th lowest)
13. Maryland
> 1-month change in avg. gas price: +$0.70 per gallon (+20.4%)
> Avg. price of gas, March 7: $4.09 per gallon (16th highest)
12. South Carolina
> 1-month change in avg. gas price: +$0.70 per gallon (+22.1%)
> Avg. price of gas, March 7: $3.88 per gallon (21st lowest)
[in-text-ad-2]
11. New Hampshire
> 1-month change in avg. gas price: +$0.71 per gallon (+21.0%)
> Avg. price of gas, March 7: $4.07 per gallon (18th highest)
10. Virginia
> 1-month change in avg. gas price: +$0.71 per gallon (+21.7%)
> Avg. price of gas, March 7: $3.98 per gallon (23rd highest)
[in-text-ad]
9. North Carolina
> 1-month change in avg. gas price: +$0.71 per gallon (+22.1%)
> Avg. price of gas, March 7: $3.93 per gallon (25th lowest)
8. Connecticut
> 1-month change in avg. gas price: +$0.71 per gallon (+19.9%)
> Avg. price of gas, March 7: $4.28 per gallon (8th highest)
7. Massachusetts
> 1-month change in avg. gas price: +$0.72 per gallon (+20.8%)
> Avg. price of gas, March 7: $4.16 per gallon (13th highest)
[in-text-ad-2]
6. Georgia
> 1-month change in avg. gas price: +$0.72 per gallon (+22.0%)
> Avg. price of gas, March 7: $3.97 per gallon (24th highest)
5. Delaware
> 1-month change in avg. gas price: +$0.72 per gallon (+21.4%)
> Avg. price of gas, March 7: $4.11 per gallon (15th highest)
[in-text-ad]
4. Tennessee
> 1-month change in avg. gas price: +$0.72 per gallon (+23.0%)
> Avg. price of gas, March 7: $3.87 per gallon (19th lowest)
3. Nevada
> 1-month change in avg. gas price: +$0.73 per gallon (+18.9%)
> Avg. price of gas, March 7: $4.59 per gallon (3rd highest)
2. Rhode Island
> 1-month change in avg. gas price: +$0.74 per gallon (+21.6%)
> Avg. price of gas, March 7: $4.18 per gallon (11th highest)
[in-text-ad-2]
1. Alabama
> 1-month change in avg. gas price: +$0.75 per gallon (+23.8%)
> Avg. price of gas, March 7: $3.91 per gallon (24th lowest)
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
