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Commodities

California Gas Prices Hit 11-Day High Amid Ongoing Iran War

Guavy AI Editorial Team
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California's gas prices continue to soar, reaching an 11-day high in Los Angeles on Saturday. The statewide average price jumped from $5.58 per gallon on August 19 to $5.66, making California the most expensive state for fuel.

The increase is attributed to the ongoing Iran war and restrictions in the Strait of Hormuz, a crucial oil shipping route. Oil prices have risen along with fuel prices since the war began in February, reaching $80 per barrel.

According to AAA, 'continued volatility in the Strait of Hormuz' has kept crude oil prices high. The national average price for regular gas is $4.08 per gallon, more than 80 cents higher than a year ago.

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