New Yorkers are getting a crash at the gas pump.
Regular unleaded hit an average of $3.58 a gallon across the city Saturday, up from $2.86 just three weeks ago, according to GasBuddy.
And some area stations are already flirting with $4 a gallon.
One-fifth of the world’s oil supply has been shut down since Iran blockaded the Strait of Hormuz in retaliation for the US and Israeli bombing campaign that began Feb. 28.
The average pump price nationwide jumped 26 cents in the past week alone, reaching $3.68 Saturday – a 70-cent spike since the start of the war, according to AAA.
The last time Americans paid this much was May 2024. The day before the first strikes, a gallon of regular cost a comfortable $2.98.
With a barrel of crude oil selling for little more than $100, and the US shifting to summer-blend gasoline, which burns cleaner but costs more to produce, the end of the price surge might not be near.
President Trump on Wednesday ordered the release of 172 million barrels from the US Strategic Petroleum Reserve, the biggest such release in American history.
The US burns through roughly 20 million barrels of petroleum every single day, yet the emergency dump will only cover just over eight days of domestic demand.
