U.S. Gas Prices See Biggest Jump of 2025, Won’t Last with Tariff Crash

The nation’s average price of gasoline has risen for the third straight week, increasing 10.6 cents compared to a week ago and stands at $3.21 per gallon, according to GasBuddy® data compiled from more than 12 million individual price reports covering over 150,000 gas stations across the country. The national average is up 13.2 cents from a month ago and is 35.6 cents per gallon lower than a year ago. The national average price of diesel has increased 3.6 cents in the last week and stands at $3.594 per gallon.

“While the national average price of gasoline saw its largest weekly gain of the year, it likely won’t last long, as oil prices have plummeted amid growing concerns about the global economy following the U.S. announcement of some of the most significant tariffs in over a century, along with OPEC+ restoring oil production faster than anticipated,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “In addition to falling oil prices, the stock market has dropped sharply, and the risk of a recession has increased — raising the likelihood of reduced global energy and oil demand, which is sending prices lower. As a result, motorists can expect gas prices to begin falling nearly coast-to-coast, with oil now at its lowest level since the early days of the pandemic in 2021. If tariffs aren’t scaled back soon, the national average could fall below $3 per gallon in the weeks ahead, with no clear indication of how long it might stay there as market volatility persists.”

OIL PRICES

Energy markets have tanked over the last week as President Trump’s announced tariffs have led to surprise and some level of panic, with global stock markets selling off and investors on edge. Oil prices have seen a collapse down to their lowest levels since the pandemic, and Monday looks to continue that pain with the White House adamant that it will move at speed forward, slapping trading partners with the most extreme tariffs in over a century. In early Monday trade, WTI crude oil was down another $1.52 per barrel to $60.47, while in late Sunday trade had fallen below $60 before recovering above. That’s nearly $9 per barrel lower than last Monday’s $69.57 per barrel start. Brent was not safe either, falling $1.56 in early Monday trade to $64.02, over $10 per barrel lower than last Monday’s $74.13 per barrel start.

OIL AND REFINED PRODUCTS

The EIA’s Weekly Petroleum Status Report for the week ending March 28, 2025, showed U.S. oil inventories rose by 6.2 million barrels, about 4% below the seasonal average for this time of year, while the SPR rose 300,000 barrels to 396.4 million. Gasoline inventories fell by 1.6 million barrels, 2% above the five-year seasonal average, while distillate inventories rose 300,000 barrels and are about 6% below the five-year seasonal average. Refinery utilization fell 1.0 percentage point to 86.0% as refineries continue maintenance, while implied gasoline demand, EIA’s proxy for retail demand, fell 148,000bpd to 8.495 million, a relatively soft level.

GAS PRICE TRENDS

The most common U.S. gas price encountered by motorists stood at $2.99 per gallon, unchanged from last week, followed by $3.09, $3.19, $2.89, and $3.29, rounding out the top five most common prices.

The median U.S. gas price is $3.09 per gallon, up 10 cents from last week and about 12 cents lower than the national average.

The top 10% of stations in the country average $4.63 per gallon, while the bottom 10% average $2.64 per gallon.

The states with the lowest average prices: Oklahoma ($2.72), Mississippi ($2.73), Tennessee ($2.77).

The states with the highest average prices: California ($4.87), Hawaii ($4.44), and Washington ($4.31).

Biggest weekly changes: Alaska (+17.3¢), Oregon (+16.6¢), Nevada (+16.2¢), Washington (+14.4¢), Texas (+12.1¢)

DIESEL PRICE TRENDS

The most common U.S. diesel price stood at $3.59 per gallon, 10 cents higher than last week, followed by $3.49, $3.29, $3.69, and $3.39, rounding out the top five most common prices.

The median U.S. diesel price is $3.49 per gallon, unchanged cents from last week and about 10 cents lower than the national average.

Diesel prices at the top 10% of stations in the country average $4.62 per gallon, while the bottom 10% average $3.01 per gallon.

The states with the lowest average diesel prices: Texas ($3.18), Oklahoma ($3.19), and Louisiana ($3.22).

The states with the highest average diesel prices: Hawaii ($5.20), California ($4.97), and Washington ($4.43).

Biggest weekly changes: Montana (+9.0¢), Texas (+7.8¢), New Mexico (+7.3¢), Nevada (+7.2¢), Oklahoma (+7.2¢).