Gas prices have jumped nearly 17% in the last 10 days, bringing them to their highest levels since 2024.
According to the site GasBuddy the price of gas during that period jumped from an average of $2.94 per gallon to $3.61, making a 23% increase. During the 10-day period before that, gas prices ranged from $2.87 to $2.98.
The price increase coincides with U.S. military action against Iran, seeing both the U.S. and Israel launching airstrikes on multiple cities and targets throughout the country. Oil tanker traffic through the Strait of Hormuz, meanwhile, is reported to have been significantly reduced.
Gas price increases have shown dramatic differences by state, with Utah seeing a 14% climb. The increase in Colorado has been at around 10%, while both Arizona and New Mexico have endured roughly 5% jumps.
In dollar terms, this means that the average price in Colorado as of March 12 is $3.60, with Arizona at $4 even and New Mexico slightly lower at $3.48.
According to the American Automobile Association’s national average tracker, prices have seen the swiftest increases on the East coast, parts of the Midwest, and West coast.
The Trump administration has downplayed the price jumps, with press secretary Karoline Leavitt remarking “the recent increase in oil and gas prices is temporary, and this operation will result in lower gas prices in the long term.”
The President himself has predicted that the higher prices will decline within the month, while also announcing that the U.S. is tapping into the country’s Strategic Petroleum Reserve to the tune of 172 million barrels in a move to alleviate the price increases.
March 13, 2026
By Garry Boulard
Photo courtesy of Unsplash
