Skip to playerSkip to main content
  • 1 day ago
The average cost of regular gasoline across the United States has climbed to $4.56 per gallon — the highest it's been in four years — primarily due to the 87-day shutdown of the Strait of Hormuz following military actions by the US and Israel against Iran that commenced on February 28. AAA confirmed this figure on Friday. The CEO of ADNOC cautioned this week that even if a peace agreement is achieved today, complete oil shipments through the Strait are not expected to resume until the first or second quarter of 2027, indicating that American motorists will endure several more months of heightened prices, irrespective of any diplomatic advancements.

Category

🗞
News
Transcript
00:00American drivers are now paying $4.56 per gallon for regular gasoline.
00:05The highest price in four years.
00:07A confirmed the figure Friday.
00:09The cause is direct.
00:1187 days of Strait of Hormuz closure,
00:13as Iran blocks roughly 20% of the world's oil and LNG from reaching global markets.
00:19There is no quick relief.
00:21Even if a peace deal is signed today.
00:24ADNOC's CEO told industry leaders this week
00:28that full oil flow through the Strait cannot resume until 2027.
00:33That means American families face at minimum four to six more months of gas,
00:37above $4.50 per gallon.
00:39Regardless of what happens at the negotiating table,
00:42the average American household drives roughly 14,000 miles per year
00:47at $4.56 versus the pre-crisis price of $3.19.
00:51That translates to roughly $700 in additional annual fuel costs per car.
00:56Two U.S. wars in one year against Iran and backing Ukraine
01:00are now hitting every American family directly at the pump.
01:04And there is no end date confirmed.
Comments

Recommended