Iran war leaves U.S. gas prices at highest levels in nearly four years ahead of Memorial Day

U.S. gasoline prices are near four-year highs heading into Memorial Day weekend, with analysts warning pump prices could reach $5 per gallon this summer if the Strait of Hormuz remains closed. The risk centers on a potential supply shock to global oil markets, which would likely pressure consumers and energy-sensitive sectors. The article implies a material market-wide impact if the disruption persists.

Analysis

U.S. gasoline prices are near four-year highs heading into Memorial Day weekend, with analysts warning pump prices could reach $5 per gallon this summer if the Strait of Hormuz remains closed. The risk centers on a potential supply shock to global oil markets, which would likely pressure consumers and energy-sensitive sectors. The article implies a material market-wide impact if the disruption persists.