Drivers in the U.S. are facing the highest gas price increase in four years, and there may be more challenges on the horizon. The latest data from AAA shows the national average has climbed to $4.30 per gallon, reflecting an increase of approximately $1.16 since the onset of the Iran conflict in early March. Brent crude oil is currently priced at around $118 per barrel. The Strait of Hormuz, a key route for 20 percent of the globe's oil supply, remains essentially inaccessible. This week, Exxon's CEO cautioned that the market has yet to fully experience the repercussions. Discover what a potential $5 per gallon by mid-summer could mean for your family's finances.
