Key facts
- AAA data cited by Business Insider showed regular gas prices up nearly 40% year on year as of November 2.
- In 42 states, regular gas prices per gallon were at least $1 higher than a year earlier, per AAA data.
- A White House spokesperson told Business Insider gas prices will drop drastically once the Middle East conflict ends.
- The spokesperson said more oil is flowing out of the Persian Gulf than before the Iran conflict began.
US regular gasoline prices averaged nearly 40% higher on November 2 than a year earlier, according to AAA's Fuel Price Tracker as cited by Business Insider. In 42 states, regular gas prices per gallon were at least $1 higher than a year earlier, the outlet reported.
Business Insider ranked all US states by the percentage increase in regular prices over the past year and also listed diesel increases. Washington state's regular price was $5.19 a gallon, up 21.2% ($0.91) from a year earlier, with diesel at $7.25 a gallon, up 45.6% ($2.27). North Carolina's regular price was $3.38 a gallon, up 22.7% ($0.63), with diesel at $5.49, up 58.2% ($2.02). Oregon's regular price was $4.79 a gallon, up 23.2% ($0.90), with diesel at $6.71, up 53.7% ($2.34). Alaska's regular price was $4.76 a gallon, up 24.4% ($0.93), with diesel at $6.44, up 57.9% ($2.36).
A White House spokesperson told Business Insider that once the conflict in the Middle East ends, gas prices will "drop drastically," adding that Iran "will not have a nuclear weapon." The spokesperson said that "thanks to the exceptional work of the US military, more oil is now flowing out of the Persian Gulf than before the Iran conflict began."