Gasoline Costs 50 Percent More in the U.S. than It Did Two Months ago

Over the past week, the price of a gallon of regular gasoline climbed 31 cents, spiking to an average of $4.48 per gallon Tuesday, according to AAA, hitting the wallets of drivers after rising 50 percent since the war with Iran began. The average cost in Ohio was much higher, with many areas seeing prices hovering at $4.99 for several days.

The main reason drivers are paying more at the pump is because of the global energy crisis caused by the U.S./Israel war with Iran. The price of crude oil, which is the main ingredient in gasoline, has been climbing for most of the past two months because the Strait of Hormuz, the narrow passage of the Persian Gulf through which a fifth of the world’s crude oil normally passes, has effectively been shut, and oil tankers have been stranded there unable to deliver crude. 

Many drivers were hopeful in mid-April, amid signs that the conflict could be winding down when gasoline prices fell daily for almost two weeks.

Please select this link to read the complete article from The Associated Press.