US gas prices crossed $4 per gallon nationally for the first time since 2022 this week, driven entirely by the Iran war and Strait of Hormuz closure. California drivers are paying $5.89 per gallon with diesel at $7.52. Wall Street analysts now consider $200 per barrel oil a realistic scenario if the strait remains closed, which would push national gas averages toward $6–$7 per gallon. Amazon, UPS and airlines have already announced fuel surcharges and route cancellations.
