US Average Gasoline at $4.30…Highest in Four Years, Pressuring Low-Income Households

National average gasoline prices reached $4.39 as of May 1, marking the highest level in four years. This represents a 42% surge since the February 27 coordinated Israeli-US military action against Iran. Amid wage growth of only 1% for lower-income workers in March, shifts toward carpooling and public transit are accelerating.