Gas prices jump to $4.39 per gallon as Iran war drags on
NBC News • • business
Key Points:
- The national average gas price surged to $4.39 per gallon, marking the largest one-day increase since the April 7 ceasefire announcement with Iran and a 47% rise since the war began.
- Crude oil prices have risen over 80% this year, with U.S. crude trading around $103 per barrel and Brent at $110, driven by ongoing tensions and a U.S.-enforced blockade on Iranian ports.
- President Trump insists the blockade will continue to pressure Iran economically, though experts warn oil prices may stay high long after the war ends due to Iran's ability to disrupt shipping through the Strait of Hormuz.
- Congressional calls for a War Powers Resolution vote have emerged as the conflict surpasses 60 days, but the administration and House Speaker assert the U.S. is not currently at war.
- Energy industry leaders and analysts warn that supply disruptions could force demand reductions, with uncertainty persisting over a potential deal between the U.S. and Iran, and the reopening of the Strait of Hormuz remains critical for stabilizing markets.
