US gas prices edge up again as US-Iran tensions heighten over strait of Hormuz
Rising tensions between the U.S. and Iran have caused fuel prices to spike, with diesel exceeding $5 per gallon in the United States. Market volatility is being exacerbated by unpredictable rhetoric from the White House regarding the Strait of Hormuz.
Why it matters
Energy price hikes impact the entire retail supply chain, creating economic pressure on consumers and businesses alike.
A driver pumps gas at an Exxon station on 10 July 2026 in Austin, Texas. A driver pumps gas at an Exxon station on 10 July 2026 in Austin, Texas. Strait of Hormuz US gas prices edge up again as US-Iran tensions heighten over strait of Hormuz Diesel tops $5 a gallon as regular gas reaches almost $4, nearly a dollar and a quarter more than a year ago
Prefer the Guardian on Google The average price of diesel fuel in the US has increased again to more than $5 a gallon, according to the AAA , and the average price of gas is almost $4, returning to their highs before the June memorandum of understanding between the US and Iran .
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