U.S. drivers face $4.23 average gas price as Iran blockade directive and margin recovery hit
Updated
Updated · The Wall Street Journal · Apr 29
U.S. drivers face $4.23 average gas price as Iran blockade directive and margin recovery hit
15 articles · Updated · The Wall Street Journal · Apr 29
The national average for regular gasoline jumped nearly 12 cents this week to $4.23, AAA reports, with stations regaining margins after recent losses.
Crude futures surged 5% following reports that President Trump ordered aides to prepare for an extended Iran blockade, further complicating the Federal Reserve's inflation outlook.
Analysts warn drivers could see further price hikes even if oil prices stabilize, as gas stations seek to restore profitability amid ongoing supply disruptions from the Iran war and Strait of Hormuz blockade.
How long can households withstand the dual shock of record fuel and rising food prices?
How will the Hormuz crisis reshape the world's energy and food supply chains?
What is the true long-term environmental cost of the conflict in the Persian Gulf?
Could the Iran war permanently accelerate the global shift to electric vehicles?
With consumer sentiment at a record low, is the stock market ignoring a looming recession?
Are pipeline alternatives a realistic long-term solution for bypassing the Strait of Hormuz?