US Gas Prices Soar Above $4 Amid Strait of Hormuz Tensions

The price of gasoline in the United States has surpassed $4 per gallon for the second time this year due to ongoing geopolitical tensions in the Middle East.

The national average reached $4.003 per gallon, according to data from the American Automobile Association (AAA), putting pressure on consumers and businesses alike.

The main reason for the price increase is the disruption of maritime traffic in the Strait of Hormuz, a strategic corridor through which nearly 20% of the world's oil supply normally circulates.

As tensions between the US and Iran escalate, international crude oil prices have risen, causing gas stations to pass on the increase to retail prices.