U.S. Gasoline Prices Rise Above $4 Per Gallon Amid Middle East Tensions
The national average U.S. gasoline price climbed back above $4 per gallon on July 20, driven by rising crude oil prices due to renewed hostilities in the Middle East and a de facto closure of the Strait of Hormuz. The increase follows nine consecutive nights of U.S.-led strikes against Iran and Iranian attacks targeting regional allies.