US Petrol Prices Hit $4 Per Gallon as Iran War Disrupts Global Energy Supply

US Petrol Prices Hit $4 Per Gallon as Iran War Disrupts Global Energy Supply

Petrol prices in the United States have surged past $4 per gallon for the first time in over three years, as the ongoing conflict involving Iran continues to disrupt global energy markets. Data from GasBuddy, reported by Reuters, shows the national average retail price crossed the $4 mark on Monday, driven largely by rising crude

Petrol prices in the United States have surged past $4 per gallon for the first time in over three years, as the ongoing conflict involving Iran continues to disrupt global energy markets.

Data from GasBuddy, reported by Reuters, shows the national average retail price crossed the $4 mark on Monday, driven largely by rising crude oil costs and supply disruptions linked to tensions in the region. The milestone was last recorded in August 2022 following the Russian invasion of Ukraine.

A major factor behind the spike is the partial closure of the Strait of Hormuz, a critical global shipping route for oil. Since late February, when the U.S. and Israel launched attacks on Iran, petrol prices have risen by about $1.06 per gallon—an increase of roughly 36%.

The surge is placing pressure on American households already battling high living costs and has become a political challenge for Donald Trump and his administration ahead of the November midterm elections.

Crude oil prices have also climbed sharply, with U.S. futures settling above $102 per barrel. Further increases are expected if tensions persist, especially following reports of attacks on oil tankers in the Gulf region.

In response, the Trump administration has temporarily eased shipping restrictions by waiving the Jones Act, allowing foreign vessels to transport fuel between U.S. ports. However, experts say the move is unlikely to significantly reduce prices in the short term.

A recent Reuters/Ipsos poll shows that 55% of Americans say rising fuel costs are already affecting their household finances, with many reporting significant economic strain.

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