Gas again tops $4 per gallon as Iran fighting persists
Source: www.axios.com ·
Section: politics ·
Bias: Center-Left
· Published: Mon, 20 Jul 2026 09:34:29 GMT
Drivers can expect pump shock déjà vu as the national average gas price again climbed over $4 per gallon today, as President Trump appears poised to escalate the war in Iran.The big picture: Tanker traffic is once again being choked in the Strait of Hormuz after fighting between Iran and the U.S. reignited, with Washington reinstating a naval blockade that could dramatically escalate tensions.Oil prices have risen as the conflict has escalated and the memorandum of understanding between the U.S. and Iran unravels.Driving the news: The national average is now $4.00 a gallon, per AAA.Catch up quick: Last month, prices slipped back below $4 per gallon, giving some relief following months of pain at the pump. As a result, Americans reported feeling better about the economy. Majorities of Americans in multiple polls had blamed Trump to some extent for the pump shock. While the current average per gallon is below recent highs, it's up 86 cents year-over-year.Data: AAA; Chart: Ben Geman/AxiosState of play: Trump weighed expanding U.S. military strikes on Iran on Tuesday as he huddled with his team in a Situation Room meeting where they discussed a massive offensive wider in scope than the current bombardments.U.S. Central Command has said the recent strikes were in response to Iran's attacks on commercial shipping and aimed to further degrade Tehran's military capabilities.What we're watching: As the Strait of Hormuz crisis ensnares global markets, countries and companies are scrambling for ways to bypass the waterway.Go deeper: Rise in gas prices caused "financial hardship" for two-thirds of households surveyed
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