The average gas price in the U.S. hit $4 per gallon today for the first time since 2022, marking over a 30% increase since the U.S. and Israel launched strikes against Iran in late February.
Vice President JD Vance told consumers they face “a rough road ahead” regarding gas prices in the coming weeks. Vance assured that the spike is temporary and prices will drop after the war ends.
The price rise comes as US stock futures increased on Tuesday after President Trump reportedly told officials in his administration that he might be open to ending the conflict with Iran without completely reopening the Strait of Hormuz.
Contracts tied to the S&P 500 increased by 1%, while Nasdaq 100 futures rose 0.95% and Dow Jones Industrial Average futures increased by 1%.
Brent, the international benchmark, has meanwhile surged approximately 55% this month. If these gains are maintained today, it would mark the largest monthly increase ever recorded for this benchmark.
By CEO NA Editorial Staff
