US Gas Prices Hit Four-Year Peak Amid Iran War Uncertainty
US gasoline prices reached a four-year high on Tuesday, April 28, 2026, as talks to end the Iran war stalled. The average price per gallon climbed to $4.17, a significant increase from $2.98 when the war began on February 28. This marks a 28% rise in just two months, according to AAA data.
The conflict in the Middle East has triggered one of the largest global oil shocks in history. The closure of the Strait of Hormuz by Iran, a key maritime route for global oil supply, has contributed to the surge. Oil prices have jumped more than 50% from pre-war levels, with US oil futures hovering around $99 a barrel on Tuesday.
While the US is a net exporter of petroleum, global oil market fluctuations still impact domestic prices. Crude oil, the primary component of gasoline, makes up over half of the price at the pump. The recent uptick in prices follows a brief dip after a US-Iran ceasefire was announced on April 8.
The Philadelphia area saw the steepest increase, with prices rising 15 cents to $4.27 per gallon since Monday. The ongoing uncertainty in negotiations has pushed oil prices higher, driving up fuel costs across the country.