The $4.02 price is the highest since August 2022. As it is a national average, drivers in some states will have already been paying more than $4 a gallon.
However, average prices are still below the record highs of $5.01 for gas and $5.81 for diesel, set in June 2022 in the aftermath of Russia’s invasion of Ukraine.
Higher wholesale energy prices often show up first at the fuel pump and this is being seen, not just in the US but around the world.
In the UK, average petrol prices have risen by 14% and diesel by 27% since the war began.
Some countries, such as Sri Lanka and Bangladesh, have introduced fuel rationing, while last week Slovenia became the first EU country to do so.