Iran War Drives US Gas Prices Above $4.20 Per Gallon
The ongoing war in Iran has led to a significant increase in gas prices across the country. According to GasBuddy, the price of gasoline has risen by 17.2 cents per gallon nationwide over the past week, averaging $4.25 per gallon today. This marks an increase of 19 cents from last month and $1.14 per gallon higher than a year ago.
The national average price of diesel has also increased, rising by 31.6 cents compared to a week ago and standing at $6.183 per gallon. Oil prices spiked on September 9 after US military forces destroyed five Iranian crude oil tankers, leading to the current surge in gas prices.
Gas prices have surged 42% since the start of the war on February 28, resulting in pain at the pump for American consumers. The average additional cost to households due to the spike in gas prices is estimated to be $688.47, according to the Institute of Taxation and Economic Policy.
In Ohio, gasoline prices have risen by 25.1 cents per gallon in the last week, averaging $4.16 per gallon today. Prices are currently 11.6 cents per gallon lower than a month ago but stand at $1.30 a gallon higher than a year ago.