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The nationwide gas prices in the United States exceeds US$4 per gallon, the highest since June 17.
Confirmed
White House spokesperson Taylor Rogers said in a statement Monday that “oil and gas prices will plummet back to pre-conflict levels” as the U.S. military degrades Iran’s ability to attack vessels and disrupt trade in the Strait of Hormuz, where roughly a fifth of the world’s oil sailed through during peacetime.
Although Trump said he would drop the fee, oil prices continued rising on near-daily U.S. strikes against Iran, as well as Iranian retaliation. Days later, oil prices climbed after Trump announced that he was “reinstating the Iranian blockade” in the Strait of Hormuz.
As of Friday, that price was nearly 43% higher, at $3.57 per gallon, according to data from the Argus U.S. jet fuel index. According to motor club AAA, the national average for a gallon of regular gasoline is now just above the $4 mark.
“I am down to the last drops of gas,” said Litza Mavrothalasitis, a Chicago resident, when filling her tank on Monday, adding that she was shocked to see how high it had gone up again. “The continued predominance of Iran-linked and sanctioned vessels suggests mainstream shipowners remain cautious about transiting the waterway,” the analysts added.
Last month, S&P Global Energy said it did not expect Persian Gulf oil production to rebound fully until at least the first quarter of 2027. “Senseless war in Iran, and our current administration is fueling a lot of this — and it’s terrible,” Fisher said.
What's confirmed
- White House spokesperson Taylor Rogers said in a statement Monday that “oil and gas prices will plummet back to pre-conflict levels” as the U.S. military degrades Iran’s ability to attack vessels and disrupt trade in…
- White House spokesperson Taylor Rogers said in a statement Monday that “oil and gas prices will plummet back to pre-conflict levels” as the U.S.
- Although Trump said he would drop the fee, oil prices continued rising on near-daily U.S.
- As of Friday, that price was nearly 43% higher, at $3.57 per gallon, according to data from the Argus U.S.
- “I am down to the last drops of gas,” said Litza Mavrothalasitis, a Chicago resident, when filling her tank on Monday, adding that she was shocked to see how high it had gone up again.
- Last month, S&P Global Energy said it did not expect Persian Gulf oil production to rebound fully until at least the first quarter of 2027.
What's still developing
- According to motor club AAA, the national average for a gallon of regular gasoline is now just above the $4 mark.
- “I am down to the last drops of gas,” said Litza Mavrothalasitis, a Chicago resident, when filling her tank on Monday, adding that she was shocked to see how high it had gone up again.
- “Senseless war in Iran, and our current administration is fueling a lot of this — and it’s terrible,” Fisher said.
- “The continued predominance of Iran-linked and sanctioned vessels suggests mainstream shipowners remain cautious about transiting the waterway,” the analysts added.
- Last month, S&P Global Energy said it did not expect Persian Gulf oil production to rebound fully until at least the first quarter of 2027.
- Days later, oil prices climbed after Trump announced that he was “reinstating the Iranian blockade” in the Strait of Hormuz.
- Although Trump said he would drop the fee, oil prices continued rising on near-daily U.S. strikes against Iran, as well as Iranian retaliation.
- As of Friday, that price was nearly 43% higher, at $3.57 per gallon, according to data from the Argus U.S. jet fuel index.