Gasoline prices up 33.9% in April on Long Island, metropolitan area; fastest increase in nearly 4 years

Gasoline prices on Long Island and in the metropolitan area overall rose a whopping 33.9% last month compared with a year ago as the war with Iran continued to disrupt oil production and transportation.

That was the fastest rate in nearly four years — and followed March’s 18.2% increase in the cost of gas.

The surge in pump prices led to higher inflation overall in the metro area and nationwide last month with the consumer price index rising at its quickest pace in three years. The index was released Tuesday by the federal Bureau of Labor Statistics.

The war, which began with the United States and Israel bombing Iran on Feb. 28, has reversed the year-over-year decline in the cost of gas seen in January and February, as well as in much of 2025.

Prices on Long Island have continued to climb this month. The average price of a gallon of unleaded was $4.53 on Tuesday, up from $4.35 on May 1, according to AAA.

Economists predicted more of the same at least in the short term, with some saying inflation will peak next month.

"Shoppers face a costly summer ahead," said John A. Rizzo, an economist and Stony Brook University professor, adding the higher gas prices coincide with the Trump administration’s tariffs on imported goods.

"Businesses are passing on the import taxes directly to customers. At the same time, high oil prices and summer gas fees are making it pricier to ship food and store goods," which leads to increases in retail prices, Rizzo said.

He and others predicted consumers would reduce their discretionary spending in the face of higher costs for basic needs such as food, fuel and rent. That in turn would hurt economic growth because consumer spending accounts for roughly 70% of economic activity.

In Baldwin, commuters waiting for trains at the Long Island Rail Road station said they’d already cut back.

Randy Murphy, 31, an architect from Baldwin, said he and his girlfriend canceled their plan to drive to California for vacation.

"With gas as high as it is, the trip doesn’t make sense," Murphy said on Monday. "We’re going to stay local, probably spend some time at Jones Beach and on the East End."

Gasoline wasn’t the only commodity whose price rose last month.

The cost of fruits and vegetables climbed 11.8% in April compared with a year ago. Nonalcoholic beverages and cereal/baked goods were up 8.6% and 5%, respectively, according to the statistics bureau.

The overall consumer price index for the 25-county region, including Long Island, rose 4.6% last month compared with April 2025. That was the fastest pace in three years.

The index climbed 4% in March, year over year.

The national index increased at a slower rate: 3.8% in April compared with a year ago. This is partially due to the smaller increase in the cost of gasoline compared with the New York area.

Nationwide, gas prices were up 28.4%, year over year, or 5.5 percentage points slower than locally.

Bernard Yaros Jr., a Philadelphia-based economist for the research firm Oxford Economics, predicted the rate of inflation would peak in June but remain "well below its pandemic-era heights."

He also said the cost of commodities besides food and fuel was "unlikely to move significantly higher."

Yaros and others predicted the Federal Reserve wouldn’t change interest rates for the foreseeable future despite growing pressure from President Donald Trump for lower rates to boost consumer spending.

Ryan Young, a senior economist at the Washington-based think tank Competitive Enterprise Institute, said, "If the Fed was considering an interest rate cut later this year, that is now even less likely."