U.S. average gas price hits $4 a gallon

U.S. average gas prices have hit $4 per gallon nationwide, according to AAA data, driven by a 35% surge since a war in Iran began last month and the closure of the Strait of Hormuz, which normally handles roughly 20% of global oil supply. Regular gas now averages $4.018 per gallon, up from $2.98 a month ago, while oil prices have exceeded $100 a barrel. The closure of the strategic shipping lane is expected to keep downward pressure on prices minimal as global supplies remain strained. A Morning Consult poll shows 48% of Americans blame President Trump and his administration for the increase, though 87% of those surveyed by Reuters/Ipsos expect prices to continue rising as the conflict persists. The U.S. last saw $4-per-gallon averages in 2022 following Russia's invasion of Ukraine, but remains well below the record $5.03 average from June 2022.