Gas Prices Surge Nationwide Amid Rising Oil Costs
Gas prices jumped sharply across the U.S., rising 23 cents in just one week to an average of $3.68 per gallon. Prices are now 80 cents higher than last month and up 66 cents compared to a year ago.
The West Coast remains the most expensive region at nearly $5 per gallon, while the Midwest has some of the lowest prices, averaging around $3.39. States like Kansas and Oklahoma currently offer the cheapest fuel.
The increase is being driven by higher oil prices tied to tensions in the Middle East, along with the seasonal switch to summer gasoline. With both factors in play, prices are expected to keep climbing in the weeks ahead.
Used Vehicle Prices Rise as Strong Demand Continues
Used vehicle prices continued to climb in early March, with the Manheim index up slightly from February and more than 5% higher than last year. The market is holding strong during its usual busy season.
Tariffs Put Pressure on Volkswagen’s North American Strategy
Volkswagen’s long-standing strategy of building vehicles in Mexico and exporting them to the U.S. is under growing strain due to high tariffs. The company sends up to 70% of its Mexico-built vehicles to the U.S., making it especially vulnerable to rising costs.