Gas again tops $4 per gallon as Iran fighting persists

The national average gas price has again topped four dollars per gallon, Axios reports. The spike stems from escalating U.S.-Iran tensions and a naval blockade in the Strait of Hormuz that's choking tanker traffic and driving up oil costs. President Trump is weighing whether to expand military strikes on Iran, with the Pentagon saying recent bombardments targeted Iranian military capabilities in response to Tehran's attacks on commercial shipping. Gas is now up eighty-six cents compared to a year ago, and the price surge is causing financial hardship for two-thirds of surveyed households. Companies and countries are scrambling to find alternative routes around the Strait as the geopolitical crisis impacts global markets.

Listen to this story

Hear this and more stories in a personalized audio briefing.

Open The Chonkerton