US average gasoline prices are nearing $4.50 a gallon as the Iran war threatens to keep fuel costs elevated through the summer.
The rise puts prices closer to the roughly $5 peak seen under Joe Biden, increasing political pressure on President Donald Trump and major oil companies.
Energy Secretary Chris Wright said last week prices were still about $1 below that peak, while analysts estimate fuel costs took about 2.5% of disposable income in April.
With the Strait of Hormuz crippled, are consumers facing a permanent new era of high gas prices and supply chain chaos?
Does the pause in 'Project Freedom' signal a genuine step towards diplomacy or the strategic limits of U.S. military power?
As U.S.-Iran talks falter, can Pakistan's mediation succeed where military force has failed to secure a lasting peace?