Drivers across America are encountering the highest fuel costs in several years as the ongoing conflict in Iran disrupts the Strait of Hormuz, leading to a tightening of global oil supplies. Currently, the average price for gasoline in the US stands at $4.52 per gallon, marking an increase of over $1 since the onset of the war in February, according to AAA. Experts in the oil sector caution that prices may escalate further if the Strait of Hormuz remains inaccessible, with Brent crude prices exceeding $107 per barrel. Officials from the Trump administration have suggested the option of pausing the federal gas tax to alleviate the burden.
