US pump prices near 4 year high on Iran war disruption, refinery outages

The average U.S. gasoline price has risen to its highest level in nearly four years, up more than 40% since the U.S. and Israel attacked Iran at the end of February. The move highlights how geopolitical conflict is feeding directly into energy prices and broader inflation pressures. This is likely to matter for consumers, transport costs, and market expectations around near-term inflation.

Analysis

The average U.S. gasoline price has risen to its highest level in nearly four years, up more than 40% since the U.S. and Israel attacked Iran at the end of February. The move highlights how geopolitical conflict is feeding directly into energy prices and broader inflation pressures. This is likely to matter for consumers, transport costs, and market expectations around near-term inflation.