Average US gas prices topped USD 4.50 a gallon on Tuesday, the highest level recorded in nearly four years, according to an ABC News report.
This price milestone comes as the war in Iran continues and the Strait of Hormuz, a critical channel for international oil trade, remains restricted, impacting global energy flows and driving up costs for American motorists.
Citing data from GasBuddy, the report noted that the average price for a gallon of regular unleaded gas jumped to USD 4.51 on Tuesday. This represented the highest national average since July 17, 2022.
Patrick DeHaan, the head petroleum analyst for GasBuddy, said that he expected gas prices to keep rising in the absence of a peace deal to end the war.
“US gasoline inventories are already at multi-year seasonal lows, which means prices will face even more upward pressure,” the report quoted DeHaan. The cost of gasoline across the country rose 21 cents a gallon since last Thursday. Since the war in Iran began on February 28, the national average has increased by a total of USD 1.54 a gallon, according to GasBuddy.
