GasBuddy Analyst: Americans have spent an additional $109.2 billion on gasoline and diesel since March, with the daily increase currently around $730 million.
According to Patrick De Haan, head of petroleum analysis at GasBuddy, U.S. consumers and truckers have spent an estimated $109.2 billion more on gasoline and diesel since March 1 compared to the same period last year, and this gap is currently widening by approximately $730 million per day. This increase is primarily attributed to the closure of the Strait of Hormuz following U.S. and Israeli strikes on Iran in late February, which pushed WTI crude oil prices to $97 per barrel and gasoline prices to $4.16 per gallon. Diesel prices surpassed $6 per gallon for the first time, reaching all-time highs in 28 states.
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