Gasoline Prices Reach $4.23 Per Gallon, Setting a New Annual High
· Telemundo McAllen (KTLM)
Gasoline prices in the United States have hit a new record since the start of the conflict with Iran, rising to a national average of $4.23 per gallon this Wednesday, according to AAA. This milestone comes as oil prices have surged significantly over the past week amid a dual blockade — by the United States and Iran — of the Strait of Hormuz, a critical chokepoint in the region for the transit of crude oil and petroleum products from the Persian Gulf. Brent crude oil, the international benchmark that influences U.S. gasoline prices, is now priced at $114.60, marking an increase of nearly 25% from its recent low on April 17 and just a few dollars shy of its recent peak of $118.