U.S. Gas Prices Hit Highest Level Since Beginning of War in Iran [View all]

Source: NYT

Gasoline prices in the United States rose on Tuesday to their highest level in four years as peace talks between the United States and Iran appeared at an impasse.

The average cost for a gallon of regular gasoline is $4.18, according to the AAA motor club. The price at the pump has not been that high since April 2022, shortly after Russia invaded Ukraine. Tuesday’s jump of 1.6 percent was the highest percentage increase in more than a month.

Oil prices continued to climb on Tuesday, with negotiators deadlocked over proposals to reopen the Strait of Hormuz to tanker traffic and restrict Iran’s nuclear program.

The price of crude oil has risen steadily over the past week, as talks have stalled during an uneasy cease-fire. Brent crude, the international benchmark, has posted gains in six of the past seven trading sessions and remains more than 40 percent higher than it was before the first U.S.-Israeli strikes on Iran in late February.

Read more: https://www.nytimes.com/2026/04/28/business/oil-gas-stocks-iran-war.html