U.S. Gas Prices Hit 4-Year High of $4.55 Amid Iran War

U.S. gasoline prices have surged to a four-year high above $4.50 per gallon amid ongoing disruptions from the war in Iran, which has constrained shipping through the Strait of Hormuz and tightened global oil supplies.

The national average for regular gasoline reached $4.55 per gallon on Friday, according to AAA data, marking a 52 percent increase from levels before the conflict began in late February 2026. Prices climbed 31 cents in the past week alone. In California, averages exceeded $6 per gallon. The spike follows a similar pattern to 2022, when Russia's invasion of Ukraine drove prices to a record $5.02, but this time the divide in consumer impacts appears wider.

The primary driver is Iran's effective closure of the Strait of Hormuz, a chokepoint through which about 20 percent of the world's oil normally passes. Tankers have been stranded for nearly nine weeks, creating the largest supply disruption in oil market history, according to the International Energy Agency. Crude oil prices peaked at $112 per barrel in early April before falling below $100 this week amid reports of progress toward a U.S.-Iran agreement. Gasoline prices closely track crude, which accounts for...