INTERNATIONAL
US GAS PRICES SOAR ABOVE $4 PER GALLON AMID IRAN CONFLICT
The average price of gasoline in the United States has risen above $4 per gallon, reaching $4.018 as of Tuesday morning, according to the American Automobile Association (AAA). This marks the highest level since August 2022.
The surge, up from under $3 at the end of February, comes in the wake of escalating tensions and military action involving Iran. The conflict has disrupted oil markets globally, despite the US relying primarily on imports from Canada and Mexico.
California remains the most expensive state for gasoline, with prices hitting $5.88 per gallon, followed by Hawaii ($5.45) and Washington ($5.34).
The situation adds political pressure on President Donald Trump ahead of the upcoming midterm elections. Trump has warned of potential military strikes on Kharg Island and Iranian oil infrastructure if negotiations fail or if Iran continues to block the Strait of Hormuz, a critical waterway responsible for transporting about 20% of the world’s crude oil and liquefied natural gas.
Oil prices fell slightly by nearly 1% on Tuesday but remain above $100 per barrel, reflecting market uncertainty. AAA warns that pump prices may continue to rise, especially as the summer driving season approaches.
The recent spike underscores the sensitivity of US and global fuel prices to geopolitical conflicts in the Middle East, even for countries not directly dependent on the region for crude oil supplies.
"This represents a significant development in our ongoing coverage of current events."— Editorial Board