economy
March 5, 2026
Average gas price exceeds $3 nationwide for first time since November
The average price of regular gas nationwide rose to $3.015 per gallon on March 2, exceeding $3 for the first time since the end of November as the United States and Israel wage war with Iran.
TL;DR
- Nationwide average gas price reached $3.015 per gallon on March 2, exceeding $3 for the first time since November.
- Gas prices have risen for four consecutive weeks, influenced by seasonal tightening and market dynamics.
- The U.S. and Israel's military actions against Iran have increased geopolitical risk premiums.
- President Trump ordered the DFC to provide political risk insurance for maritime trade through the Gulf and offered U.S. Navy escorts for tankers.
- Stock markets reacted negatively, with the Dow Jones Industrial Average falling and airline stocks experiencing significant declines.
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