Gas Prices Update: National Average at $3.22, Tariffs Impacting Market

Gas prices have been on the rise, with a 13-cent increase per gallon since last month. However, compared to this time last year, prices are still down by nearly 40 cents. The national average fuel price is currently around $3.22, with some areas experiencing higher costs than others.

Lubbock, Texas, is currently enjoying the cheapest metro-area prices at $2.63 per gallon, while Napa, California, is facing the highest prices at $5.29. The fluctuation in gas prices can be attributed to various factors, including recent tariff announcements by President Trump.

President Trump recently announced a sweeping 10% baseline tariff on all imports to the U.S., with exceptions for oil and gas imports. This decision has had a significant impact on the stock market, with U.S. oil prices dropping by 7% on April 3. The uncertainty surrounding tariffs and trade policies has led to market volatility and concerns about the future of domestic oil and gas production.

GasBuddy analyst Patrick De Haan predicts that gas prices will continue to rise as we head into April, with a peak expected in mid-to-late April. Despite prices remaining below last year’s levels, consumers should prepare for an increase in gas prices in the coming weeks.

In Tampa-St. Petersburg-Clearwater, FL metro area, gas prices are currently at $3.24 per gallon, slightly higher than the Florida average of $3.18. The price of diesel is also on the rise, with current prices at $3.63 per gallon. Despite the increase, prices are still lower compared to last year.

As the market continues to adjust to changing trade policies and global events, consumers can expect fluctuations in gas prices in the near future. Stay informed and be prepared for potential price increases at the pump.