Iran-US Conflict Drives Up Gas Prices to Record Highs
The US and Iran escalated tensions in the Strait of Hormuz over the weekend, with each country launching retaliatory attacks against each other's assets. The conflict has been ongoing for more than six months and is driving up fuel prices in the United States.
According to AAA, the average price for a gallon of regular gas is $4.15, a 39% increase compared to prices at the start of the war in late February. Diesel prices have also reached record highs, with a gallon costing $5.90 today, up from $5.85 on Friday.
The US military operation on Saturday targeted three Iranian oil tankers in response to a missile attack on US Navy ships. Iran claimed it struck an unmanned US vessel attempting to enter the Strait of Hormuz on Sunday, but the US did not immediately confirm the attack.