Fuel prices continue to climb across the U.S., with gasoline surging toward its highest level since 2024 and diesel pushing to fresh multi-year highs.

As of 8 a.m. ET, the national average price of gasoline stands at $3.246 per gallon. That’s now just 1.4 cents shy of its highest national average since 2024 — and, based on GasBuddy’s tracking, the highest national average so far during President Trump’s two terms.

Gasoline: A Fast Move Higher — and It’s Starting to Add Up

The national average is now up 26.1 cents per gallon from a week ago, an unusually strong weekly climb.

That matters because even “a quarter per gallon” adds up quickly at a national scale. With U.S. gasoline demand at seasonal levels, a +26.1¢/gal increase implies Americans are collectively spending about:

~$95 million more per day on gasoline versus a week ago (roughly, based on current demand)

If prices remain elevated and/or continue rising as expected, the incremental cost can approach hundreds of millions of dollars per week — and could move closer to the $1B/week range if the national average climbs further or demand strengthens as we move deeper into spring.

The Increases Are Broad — Not Isolated

This isn’t just a one-region story. Price gains are widespread:

12 states are up 30 cents or more from a week ago
29 states are up 25 cents or more
39 states are up 20 cents or more
49 states are up 10 cents or more

Hawaii is the lone outlier, where prices are up only a few cents so far.

What’s Next for Gasoline

From here, I still see room for the national average to rise another 10–15 cents per gallon over the next week or so, to $3.30-$3.45/gal as retail continues catching up to wholesale increases.

Seasonal pressure could also build again in mid-March, when another step in the transition to summer gasoline typically increases production costs and can tighten supply in some regions.

That said, we’ve already seen the pace of rise slow down, and as we get closer to the weekend, I expect the pace of gasoline increases to slow further— not reversing, but climbing less aggressively once the market finishes absorbing the initial run-up.

Diesel: The Bigger Story Right Now

Diesel is where the stress is showing more clearly.

The national average price of diesel is now $4.124 per gallon, the highest level since December 2023 — which is more than two years ago (about 27 months).

Diesel has surged nearly 40 cents in the last week, and the speed is notable:

Roughly +37–40¢ in a week
One of the top ten fastest weekly increases in GasBuddy’s diesel history going back to 2005
The largest diesel surge since the 2022 energy crisis (based on weekly/monthly change comparisons)
An especially striking move: about 38 cents in just four days

Why Diesel Is Spiking More Than Gasoline

The diesel market is simply tighter, and with drone attacks on a Saudi refinery, Qatar shutting down natural gas production, boosting heating oil use, and lower U.S. inventories amidst cold weather, diesel has out-rallied gasoline.

Diesel is driven less by commuter demand and more by:

freight and trucking
industrial activity
agriculture
construction
global distillate flows

When distillates tighten, they can move faster and stay elevated longer — and that’s what we’re seeing now.

My expectation is that diesel may continue to climb into early next week, even if gasoline’s pace cools sooner. Diesel often lags on the way down, too.

Bottom Line

Gasoline is moving quickly and broadly higher, with the national average approaching a 2024 high and rising 26 cents in a week. Diesel is moving even faster, reaching its highest level since December 2023 after a weekly surge that ranks among the steepest in decades of GasBuddy tracking.

The near-term outlook:

Gasoline: increases likely continue, but the pace may slow by the weekend
Diesel: may keep climbing into early next week

Fuel Insights

Gas Prices Surge Toward a 2024 High as Diesel…