Gas Prices Surge to Four-Year Highs Amid Iran Conflict, Impacting Memorial Day Travel
Gas prices in the United States have reached their highest levels in four years, with the national average for a gallon of gas standing at $4.55. This increase, a 42% rise from the previous year, is largely attributed to the ongoing conflict in Iran, which has disrupted global oil supplies. The closure of the Strait of Hormuz by Iran has significantly impacted crude oil availability, leading to a spike in prices. As a result, six states, including California, are experiencing average gas prices above $5 per gallon. Despite these high prices, travel demand remains strong, with an estimated 39 million Americans expected to travel by car over the Memorial Day weekend. 
