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US gas prices hit $4.23 high as Hormuz fears drive oil surge

Blockade threat in vital strait and Trump’s stance lift crude, pushing pump prices to highest level since 2022

Average US gas prices have hit a new high at $4.23 a gallon, their highest since 2022 and a record since the start of the war with Iran, according to the motor club AAA.

The price of Brent crude, the benchmark that influences the price of gasoline in the US, now stands at $114.60 a barrel, up nearly 25% from the recent low since mid-April. US gas prices a year ago averaged $3.16 a gallon.

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from The Guardian https://ift.tt/ENKcd0t
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