The price of crude oil in the U.S. has jumped since airstrikes in Iran began Saturday. Now that the Strait of Hormuz is closed, prices are expected to climb higher.
WASHINGTON — Gas and oil prices in the U.S. are expected to continue rising amid the ongoing conflict with Iran and escalating tensions in the region, leading to the closure of one of the most vital passageways for oil trade.
According to AAA, the national retail average for a gallon of gasoline as of Tuesday, March 3, was $3.109. That’s up from $2.997 per gallon the day before.
Roughly a fifth of all
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