{"id":93021,"date":"2026-03-08T19:43:07","date_gmt":"2026-03-08T22:43:07","guid":{"rendered":"https:\/\/ubirataonline.com.br\/gas-prices-surge-in-u-s-as-iran-war-chokes-global-oil-supply\/"},"modified":"2026-03-08T19:43:15","modified_gmt":"2026-03-08T22:43:15","slug":"gas-prices-surge-in-u-s-as-iran-war-chokes-global-oil-supply","status":"publish","type":"post","link":"https:\/\/ubirataonline.com.br\/en\/gas-prices-surge-in-u-s-as-iran-war-chokes-global-oil-supply\/","title":{"rendered":"Gas Prices Surge in U.S. as Iran War Chokes Global Oil Supply"},"content":{"rendered":"


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Gas prices are surging across the United States as the fallout from the U.S.-Israeli attack on Iran continues to choke global oil supplies<\/a>. <\/p>\n

The national average for a gallon of regular gasoline jumped by 14% in a week to $3.41 on Saturday, according to data from the AAA motor club<\/a>.<\/p>\n

The price was under $3 a week ago, but the conflict has severely disrupted oil flows through the Strait of Hormuz<\/a>, sending crude oil above $90 a barrel. Natural gas prices in Europe have risen even more sharply. <\/p>\n<\/div>\n

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Read more<\/strong>: As Oil Tankers Come Under Attack, Experts Fear for Global Trade Through Strait of Hormuz<\/em><\/a><\/p>\n

\u201cThe last time the national average made a similar weekly jump was back in March of 2022 during the start of the Russia\/Ukraine conflict,\u201d the AAA said.\u00a0<\/p>\n

Gas prices may soon rise even higher. The last time crude oil was that high, the average price of a gallon of gas in the U.S. was $3.80, the AAA noted.<\/p>\n

The conflict has effectively closed the Strait of Hormuz, a vital waterway off the coast of Iran through which about 20% of the world’s crude oil and natural gas typically passes. <\/p>\n

Iran threatened to attack any vessel from traveling through in the first days of the war, but a Revolutionary Guard spokesman said on Saturday that it would remain open to all traffic except U.S. and Israeli ships. <\/p>\n

\u201cWe did not close the Strait of Hormuz and will not, but we will target ships belonging to the U.S. regime and the Zionist entity transiting the Strait of Hormuz,\u201d a spokesman said, according to the Wall Street Journal<\/em><\/a>. <\/p>\n<\/div>\n

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Nevertheless, the number of tankers passing through the strait has dropped to zero since Wednesday, Reuters reported<\/a>. <\/p>\n

Retaliatory Iranian missile attacks on oil and gas infrastructure in Gulf countries that host U.S. military bases, such as Saudi Arabia, Qatar and the United Arab Emirates, have also impacted the production and prices. <\/p>\n<\/div>\n

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An infographic titled “Strait of Hormuz,” created in Ankara, Turkey, on March 2, 2026. <\/span> Mehmet Yaren Bozgun\u2014Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n
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President Donald Trump made affordability a central plank of his 2024 campaign for the White House, and in his State of the Union address late last month, he boasted about his Administration\u2019s ability to keep them down. <\/p>\n

\u201cGasoline, which reached a peak of over $6 a gallon in some states under my predecessor and was, quite honestly, a disaster, is now below $2.30 a gallon in most states, and in some places $1.99 a gallon,\u201d the president claimed<\/a>. \u201cAnd when I visited the great state of Iowa just a few weeks ago, I even saw $1.85 a gallon for gasoline, the lowest in four years, and falling fast.\u201d<\/p>\n<\/div>\n

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But in an interview<\/a> with Reuters this week, he dismissed concerns about rising prices.\u00a0\u00a0<\/p>\n

“I don’t have any concern about it,” he said. “They’ll drop very rapidly when this is over, and if they rise, they rise, but this is far more important than having gasoline prices go up a little bit.\u201d<\/p>\n

In response to the rising gas prices, Treasury Secretary Scott Bessent this week issued a 30-day waiver on U.S. sanctions on the sale of Russian oil to India, in a bid to increase supply. <\/p>\n

In an X post<\/a> Thursday, Bessent added that the \u201cdeliberately short-term measure will not provide significant financial benefit to the Russian government as it only authorizes transactions involving oil already stranded at sea.\u201d<\/p>\n

White House spokeswoman Taylor Rogers told TIME that President Trump had taken other measures to mitigate the rising gas prices.<\/p>\n

\u201cPresident Trump and his entire energy team have had a strong game plan to keep the energy market stable well before Operation Epic Fury began, and they will continue to review all credible options and execute on them when appropriate,” Rogers said. <\/p>\n<\/div>\n

“The President has already initiated robust action: providing political risk insurance from the United States Development Finance Corporation to cargo ships in the Gulf, offering escorts from the U.S. Navy if necessary, and temporarily freeing up sanctioned oil to alleviate pressure in the global market,\u201d she added. <\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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