US Average Gas Price Surges Back to Record High Under Trump
Summary
The average gas price in the U.S. rose to $4.55 per gallon, near the highest level under President Donald Trump’s current term. Prices are especially high in California, reaching over $6 per gallon, as global oil supply disruptions linked to the war involving Iran have increased fuel costs.Key Facts
- U.S. average gas price reached $4.55 per gallon on Wednesday, up about $1.60 since late February.
- California’s average gas price is $6.14 per gallon, the highest in the nation.
- Five other states, including Hawaii and Illinois, have gas prices above $5 per gallon.
- The cheapest statewide average gas price is in Georgia at $4.01 per gallon, still much higher than before the Iran conflict.
- The conflict involving Iran started when the U.S. and Israel launched strikes, reducing oil flow through the Strait of Hormuz.
- The Strait of Hormuz normally carries about 20% of the world’s oil and gas supply.
- The price of crude oil has increased from roughly $73 per barrel in February to over $109 per barrel in June.
- Experts agree gas prices will likely fall only if the conflict ends and oil shipments through the Strait of Hormuz resume.
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