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Gas prices keep rising, with Illinois prices going up to well over four dollars a gallon. Wisconsin isn’t far behind. The average price of gasoline in America has surged by nearly a dollar per gallon since February 28, when the U.S. and Israel attacked Iran. The cost of crude oil, representing over half of the price of a gallon of gasoline, has experienced sharp increases.
Gasoline prices have surged to their highest levels of the Trump administration, with the national average rising roughly 30% in March 2026 due to the US-Iran conflict and disruptions in the Strait of Hormuz. With crude oil jumping, costs for gas, diesel, and air travel are rising, creating significant pain at the pump, particularly in the South and Southwest. The conflict has prompted concerns about oil supply disruptions, with some oil facilities targeted and threats to choke the Strait of Hormuz, a critical global oil trading route. Rising costs have spurred calls for reduced consumer spending and have impacted transportation, with diesel prices hitting record highs. Some 87% of Americans consider it likely that gas prices will rise further over the coming month. The US government is considering releasing oil to ease price pressures. Gas prices are likely to remain elevated for some time, even if the war ends soon, because shipping and production have been disrupted and will take time to recover.
Economists now expect slower growth this spring and for the year, as dollars that are spent on gas are less likely to be used for restaurant meals, new clothes, or entertainment. The U.S. economy was supposed to start the year with a big boost, fueled by an unusually large jump in tax refunds from President Donald Trump’s tax cut legislation. Yet spiking gas prices are on track to keep those refunds, leaving most Americans with little extra to spend.
