US retail fuel prices jump at outset of Iran war: EIA

Spanish Market: Oil products
03/03/26

US retail gasoline prices rose in the past week by the most in nearly 11 months and diesel prices neared two-year highs, according to a federal report, after the US and Israel started a war with Iran.

US retail gasoline prices in the week ended 2 March increased by 7.8¢/USG to $3.015/USG, the largest gain since 7 April 2025 and the highest value since 24 November, according to Energy Information Administration (EIA) data released Tuesday.

Prices rose across all US regions, led by an 11.9¢/USG gain in the US midcontinent to $2.794. US gasoline prices over the past seven weeks have added 23.6¢/USG on average.

The week's gains came as the US military on 28 February began combat operations in Iran following coordinated Israeli strikes, marking the most significant escalation in years in the oil-rich Mideast Gulf and putting oil and gas supply at risk.

US diesel prices in the week through Monday added 8.8¢/USG to reach $3.897/USG, the eighth straight weekly gain and the highest since 29 April 2024, according to EIA data.

Diesel prices rose across all US regions, led by a 10.9¢/USG gain in the US Gulf coast to $3.598/USG. Diesel prices have added 41.4¢/USG over the past eight weeks.

In yearly comparison, US retail diesel prices were up by 26.2¢/USG while gasoline values have fallen by 6.3¢/USG.

By Hannah Borai

US average retail prices			$/USG
	2-Mar	23-Feb	±
Regular gasoline ($/USG)
National Average	3.015	2.937	0.078
East Coast	2.882	2.834	0.048
Midcontinent	2.794	2.675	0.119
Gulf Coast	2.644	2.532	0.112
Rocky Mountain	2.758	2.662	0.096
West Coast	4.160	4.111	0.049
Diesel ($/USG)
National Average	3.897	3.809	0.088
East Coast	3.924	3.843	0.081
Midcontinent	3.888	3.798	0.090
Gulf Coast	3.598	3.489	0.109
Rocky Mountain	3.737	3.683	0.054
West Coast	4.534	4.465	0.069
Source: EIA

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03/03/26

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Brazil’s economic growth steady at 1.8pc in 4Q

03/03/26

Brazil’s economic growth steady at 1.8pc in 4Q

Sao Paulo, 3 March (Argus) — Brazil's economic growth held steady at a 1.8pc annual pace in the fourth quarter of 2025, as growth in agriculture and services was partly offset by slowing industrial activity, according to government statistics agency IBGE. Growth in gross domestic product (GDP) held unchanged in the latest quarter from 1.8pc in the third quarter of 2024, in line with analysts' estimates in a Trading Economics survey. That followed 2.4pc growth in the second quarter. For full-year 2025, GDP growth slowed to 2.3pc from 3.4pc in 2024 and 3.2pc in 2023, IBGE data show. Brazil's central bank has kept its target interest rate stable at 15pc since June 2025 . The agriculture sector accelerated to 12.1pc growth in the fourth quarter from 10.1pc in the third quarter, following positive annual contributions from orange, wheat and tobacco throughout 2025, IBGE said. As for the industrial sector, output eased to 0.6pc growth after a 1.7pc gain in the third quarter, mostly pushed down by construction despite gains in extractive, electricity, gas and waste management. Spending on services rose by an annual 2pc in the quarter, up from 1.2pc in the third quarter. Household spending accelerated to a 1pc annual pace in the fourth quarter, up from 0.4pc in the previous quarter. A favorable job market and expanding credit from federal programs aimed at low-income families prompted the result, IBGE said. Government spending accelerated to a 3.6pc pace from 1.8pc a quarter earlier. Exports grew by 14pc after a 7.2pc gain in the previous quarter , driven by agriculture, crude and metals. Imports, which subtract from growth, fell by 0.3pc after a 2.2pc increase in the third quarter, pushed down by chemical products machinery and crude, IBGE said. Gross fixed capital formation — which measures how much companies increase their capital goods — fell by 3.1pc in the quarter after a 2.3pc annual gain in the third quarter. By João Curi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

European jet prices hit 28‑month high and keep rising

03/03/26

European jet prices hit 28‑month high and keep rising

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Hormuz ship traffic down 94pc since Iran conflict began

03/03/26

Hormuz ship traffic down 94pc since Iran conflict began

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Omani ports struck in latest Gulf attacks: Update

03/03/26

Omani ports struck in latest Gulf attacks: Update

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