U.S. drivers have more reasons to consider switching to electric vehicles as the country has begun to experience a surge in gas prices.
According to data from AAA reported by Nexstar Media, the national average price for a gallon of regular gasoline jumped 11 cents overnight at the beginning of March.
Patrick De Haan, head of petroleum analysis at GasBuddy, told The Hill the spike is the largest single-day increase seen since the beginning of the Russia-Ukraine war over four years ago. Prices have only continued to rise since, hitting a national average of $3.98 as of March 24.
The report noted that gasoline prices had already been climbing as refiners began the switch to more-expensive summer blends of fuel. After the U.S. and Israel launched attacks on Iran, prices increased further.
A Nexstar analysis of the released AAA data revealed that nearly 30 states saw the national average price of a gallon of gas increase by at least 10 cents in the early days of March. WKTV reported on March 23 that gasoline jumped 24 cents in New York over the prior seven days.
Gas prices are another cost-of-living expense increase that is putting pressure on U.S. residents. However, clean energy technologies, such as solar panels, battery backups, and EVs, have opened the door for homeowners to dodge some of the cost instabilities associated with harmful fuels.
Even when gasoline prices are stable, EV drivers tend to save big by swapping expensive fuel costs for cheap electricity. Meanwhile, charging vehicles at home with a Level 2 charger, which can be ordered and installed easily through companies like TCD partner Qmerit, can save even more money over using public chargers.
According to the analysis, Ohio, Georgia, Indiana, Florida, and Iowa saw the largest day-over-day price jump for gasoline. 15 states saw the average price for a gallon of gas jump by at least 20 cents week-to-week.
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One of the main drivers of the price increase is the slowed tanker traffic through the Strait of Hormuz due to the United States' war with Iran. A fifth of the world's oil supply passes through this narrow waterway in the Persian Gulf, off the coast of Iran.
Because of the importance of this area for global oil supplies and the instability in the region, it is not yet clear when gas prices could return to normal.
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Save $1,000 this year 💸 For that type of reason, switching to an EV instead of a gas-powered car provides more independence from global oil supply issues — especially when paired with home rooftop solar panels to provide effectively free electricity from the sun.
Hybrids and plug-in hybrids are also expected to see an increase in popularity as drivers see spikes at the pump, USA Today reported.
There is hope on the horizon for an end to the conflict, as CNN noted that President Donald Trump indicated a willingness to negotiate with Iran amid the gas price concerns. But the March 24 report observed that even if negotiations go well, it may take three to four months for oil production to return to pre-war levels and thus a similar timeline for prices to drop to the levels seen from 2024 through 2025.
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