US Gas Prices Top $4 as Iran War Shuts Hormuz and Chokes Supply
Key Takeaways
- U.S. average gasoline price topped $4 per gallon for first time since 2022.
- AAA reports national average around $4.02 per gallon.
- Iran war disrupts Strait of Hormuz shipping, fueling a global oil-price spike.
Fuel Prices Soar
U.S. gas prices surged past a national average of $4 a gallon for the first time since 2022.
“Gas prices soar past $4 on average for a gallon of regular in US, highest since 2022 U”
AAA reported the average price of regular gasoline at $4.02, over a dollar more than before the war began.
The rise was driven by the effective closure of the Strait of Hormuz.
Florida Hits $4.12
Florida gas prices jumped 17 cents overnight to a statewide average of $4.12 per gallon.
The national average rose 2.8 cents.
Diesel prices also rose, up 11.8 cents overnight to $5.73 per gallon in Florida.
Trump Blames Allies
Trump criticized European allies for not getting more involved in the war.
“What to know about the Iran war today: - President Trump tells CBS News' Weijia Jiang he's not ready "quite yet" to abandon efforts to force Iran to reopen the Strait of Hormuz to all shipping traffic, as the Wall Street Journal says he's come to the conclusion that a military operation aimed at doing so would likely extend the war beyond his stated time table”
He demanded they just TAKE IT in reference to the Strait of Hormuz.
A water desalination plant on Qeshm Island was taken out of service in an airstrike.
Economic Pain Deepens
Higher gas prices were adding to cost of living strains.
The U.S. Postal Service announced an 8% fuel surcharge.
Moody's warned the economic impact could be greater than 2022.
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