US Gas Prices Hit Record High as War in Iran Continues

The war in Iran has led to record-high gas prices across the US, forcing Americans to make financial sacrifices and change their driving habits. The national average price of gas is $4.097 per gallon, up from $2.98 just before the conflict escalated in February.

A recent poll by YouGov and The Economist found that 36 percent of Americans approve of President Donald Trump's handling of the situation, while 57 percent disapprove. Meanwhile, a Reuters/Ipsos poll showed that 65 percent of respondents disapprove of Trump's job performance, with only 33 percent approving.

The strait of Hormuz, a key waterway for oil transit, has been closed to most ships since late February, causing a global shortage and driving up prices. The main reason gas prices have spiked is the effective closure of this waterway, which accounts for one-fifth of the world's oil supply.

A new survey by Insurify found that 35 percent of U.S. drivers have taken on debt to deal with higher gas prices, while 29 percent have missed or delayed a bill payment. The majority (76 percent) have cut back on spending to handle higher gas prices, and 69 percent said they have driven less.