US fuel prices surge past $4 a gallon

U.S. gasoline prices have climbed above $4 a gallon for the first time since 2022, driven by ongoing disruptions to global energy supplies from the Iran war. The surge is part of a broader inflationary wave affecting developed economies, with eurozone inflation rising to 2.5% in March, above the European Central Bank's target. The price spike is already forcing economic adjustments abroad—Egyptian businesses are closing early as the government implements energy-conservation measures to manage the crisis. Higher fuel costs typically ripple through transportation and consumer goods pricing, putting renewed pressure on American households already contending with inflation concerns heading into the 2026 midterm cycle.