Renewed Conflict Impacts US Fuel Markets Amid Global Energy Flow Disruptions

Gasoline prices at US fuel stations surpassed the four-dollar per gallon mark on Monday. This increase occurred amidst renewed hostilities in the conflict with Iran, exacerbating disruptions to energy flows through the Strait of Hormuz, a vital artery for global oil supplies. The national average retail gasoline prices had climbed by more than 30% since the US and Israel launched an offensive against Iran in late February. According to data from the American Automobile Association, the average price per gallon on Monday was recorded at $4.0030.