Average price for a gallon of gas rises 11 cents overnight to about $3.11 in US, AAA says

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Source: AP

Updated 9:24 AM EST, March 3, 2026


NEW YORK (AP) — The average price for a gallon of gasoline jumped 11 cents overnight to about $3.11 in the U.S., according to motor club AAA.

Gas prices were already rising before the U.S. launched strikes on Iran as refiners switch over to summer blends of fuel, but crude futures have risen sharply this week because of the war. On Tuesday, oil futures soared to levels not seen in more than a year as Iran launched a series of retaliatory attacks, including a drone strike on the U.S. Embassy in Saudi Arabia.

Iran has also struck energy facilities in Qatar and Saudi Arabia, and disrupted tanker traffic through the Strait of Hormuz, the narrow mouth of the Persian Gulf through which a fifth of all oil traded passes, sending global oil and natural gas prices soaring.

Benchmark U.S. crude jumped 8.6% to $77.36 a barrel. Brent crude, the international standard, added 6.7% to $81.29 a barrel. Global oil prices jumped to start the week over concerns that the war will clog the global flow of crude.

Read more: https://apnews.com/article/iran-oil-gas-gallon-aaa-e2daee318b8e3e6a1124713909a410e4