WASHINGTON — U.S. gasoline prices have climbed back above $4 per gallon as renewed global oil market disruptions linked to geopolitical tensions pushed crude prices higher and increased pressure on consumers at the pump, according to fuel price data released on Monday.
The national average price for regular gasoline reached about $4.00 per gallon on July 20, according to the American Automobile Association (AAA), after falling below that level in June. The increase followed a period of renewed volatility in global oil markets, with supply concerns tied to instability around major energy shipping routes.
AAA said the national average had risen to $3.94 per gallon by July 16, up 10 cents from the previous week, with instability around the Strait of Hormuz contributing to higher crude oil prices. The organization said crude prices were moving toward the $80-per-barrel range as markets monitored developments affecting global energy flows.
Oil markets have been closely tracking tensions involving the United States and Iran, with investors weighing the risk of further disruptions against diplomatic efforts aimed at reducing conflict. Brent crude prices rose on Tuesday as traders assessed the impact of renewed attacks, maritime risks and potential disruptions to oil supplies.
The Strait of Hormuz, a critical waterway for global energy shipments, has remained a focus for markets because a significant portion of the world’s oil and fuel exports pass through the region. Any prolonged disruption could affect supply availability and increase price pressures, analysts have said.
Gasoline prices vary significantly across the United States because of differences in state taxes, refinery access, transportation costs and regional supply conditions. Some states have remained well above the national average, while others have recorded lower prices.
The recent increase follows a decline earlier in the summer. AAA reported that average gasoline prices dropped below $4 per gallon in June as crude oil prices eased after earlier market concerns over energy supplies.
Energy markets are continuing to monitor official developments in the Middle East and shipping conditions in key oil transit areas. The latest fuel price data indicates that U.S. gasoline costs remain closely tied to global crude oil movements and ongoing geopolitical risks.
