Economy & Trade
US gasoline prices return to $4 a gallon amid renewed Mideast fighting
US gasoline prices rose back to an average of $4 per gallon on Monday, according to the AAA motor club, as fighting between the United States and Iran intensified.
The report said the increase adds political pressure on US President Donald Trump before midterm elections in November, with affordability described as a key concern for voters. The national average price for a gallon of regular gasoline was $3.14 a year earlier.
Gasoline prices first crossed the $4 threshold in March after US-Israel attacks on Iran led to Tehran's retaliation, which the report said virtually closed the Strait of Hormuz, an important route for energy transit. Global oil prices rose after the conflict began, pushing US gasoline costs higher. Before that, the last time US gasoline prices rose above $4 per gallon was in 2022, after Russia's invasion of Ukraine.
US households had received temporary relief in recent weeks when gasoline prices fell below $4 per gallon during an interim deal between Washington and Tehran. The report said fighting has since resumed.
Iran said on Monday that it was fighting a "full-scale war" with the United States as Washington expanded strikes across Iran. Iran also continued attacks across the region. A Pakistani source said Iran's Interior Minister Eskandar Momeni was set to travel to Pakistan's capital on Monday, while Iran's foreign ministry spokesperson said diplomatic exchanges with the United States through mediators were ongoing.
Uncertainty notes
The future direction of gasoline prices is not stated.
The report describes diplomatic exchanges as ongoing but does not state whether they will reduce the fighting.
Source
AFP news report published on .