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Commodities

Iran Conflict Sends US Gas Prices Soaring Toward $4 Mark

Guavy AI Editorial Team
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Oil
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A renewed conflict between the US and Iran has pushed energy prices higher, putting pump prices on track to reach $4 per gallon again.

The national average price of gasoline is currently at $3.84 a gallon, up 9.8 cents from last week's data from fuel price tracker GasBuddy showed.

This surge in prices has been accompanied by the fewest tankers in two months transiting the Strait of Hormuz, a critical route for global oil supplies.

Patrick De Haan, GasBuddy analyst, expects the national average price to reach $4 per gallon within 7-10 days, with some states potentially seeing prices rise above this mark sooner.

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