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US gasoline surpasses $4 amid Middle East tensions
Gasoline prices in the United States have exceeded the $4 per gallon mark for the first time in years, amid escalating tensions in the Middle East between the U.S. and Iran, which has disrupted oil flows through the Strait of Hormuz. The military escalation between the two sides has led to a decline in the number of ships passing through the strait and an increase in global oil prices, with the average gasoline price rising by more than 30% since the escalation began in February. This comes amidst ongoing U.S. military operations against Iranian targets and Iran's ramped-up attacks on commercial ships, raising concerns about the impact on global energy supplies.
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