US Gasoline Prices Climb to $4.46

Gasoline prices in the United States have risen to $4.46 per gallon, approaching the highest level since the 2022 fuel crisis, due to the repercussions of the American-Israeli war on Iran and its impact on global energy supplies. The price has increased by approximately 49% compared to pre-war levels with Iran. Diesel has also surged to $6.44 per gallon, reaching a record high, leading to rising inflation and prompting the Federal Reserve to raise interest rates to between 3.75% and 4%. These increases have coincided with a deterioration in oil supplies resulting from the closure of the Strait of Hormuz, through which about 20% of global oil passes, pushing oil prices to their highest levels in four months.

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