US Gas Prices Jump 50% Since War on Iran

By Staff, Agencies

The average price of regular gasoline in the United States climbed 31 cents last week to $4.48 per gallon, according to the American Automobile Association via AP. Consumers are feeling the strain, with prices up about 50% since the start of the US-"Israeli" aggression on Iran.

The spike is driven by the Strait of Hormuz closure, which has stalled tanker deliveries and pushed crude oil prices—the main component of gasoline—up sharply.

In mid-April, gasoline prices fell for nearly two weeks amid hopes the war might de-escalate, as early ceasefire signals briefly lowered crude costs. But as fighting continued, prices quickly rebounded.

Prolonged disruptions in the Strait of Hormuz continue to push global fuel prices higher.

Rob Smith of S&P Global Energy noted that the supply-demand imbalance will sustain upward pressure as long as the strait remains constrained.

Even if the war ends and passage is restored, analysts say prices could take months to stabilize due to lingering security and insurance concerns.