US gas prices hit 2024 high amid Iran war Strait of Hormuz disruption
The national average for gasoline in the United States has surged 40% since late February, reaching its highest level of the year. The spike is driven by disruptions to shipping through the Strait of Hormuz, a critical chokepoint for global oil transit, as the conflict with Iran intensifies.
Key facts
- US national gas price average has climbed 40% since late February
- Prices are at the highest level of the year
- The surge is linked to disruptions in the Strait of Hormuz
- The conflict with Iran is ongoing
- The Strait of Hormuz is a key oil transit chokepoint
Entities
Locations
- United States
- Iran
- Strait of Hormuz
Sources
- Quartz —