US gasoline reaches $4.30 per gallon; Trump says costs will drop after Iran warfare | US-Israel warfare on Iran News | UNW

Price of petrol in US jumps by nearly 30 cents in one week amid Strait of Hormuz blockade and Iran diplomatic deadlock.

The average price of one gallon (3.8 litres) of gasoline in the United States has reached $4.30, according to the American Automobile Association (AAA), up from less than $3 before the February 28 start of the US-Israel war on Iran.

Thursday’s prices come as US President Donald Trump insists that time is on his side in the standoff with Iran, even as he refuses Tehran’s offers of a preliminary deal to reopen the Strait of Hormuz.

According to AAA, prices for gas or petrol went up by 27 cents over the past week amid the deepening impasse, with Iran blocking the strait and the US imposing a naval siege on Iranian ports.

“The national average is $1.12 higher than it was this time last year, as oil prices surge above $100/barrel with no indication of when the Strait of Hormuz will reopen,” AAA said in a brief report on Thursday.

“Gas prices are the highest they’ve been in four years, since late July 2022.”

California, home to nearly 40 million people, saw petrol prices hit more than $6 per gallon on Thursday.

The spike in energy prices has been fuelling inflation and economic uncertainty, adding to Trump’s political woes.

The US president’s approval rating is hitting record lows amid growing discontent with the conflict with Iran, recent public opinion polls show.

Since the start of the war, Trump and his allies have been trying to frame the hike in petrol prices as a temporary price worth paying to achieve the aims of the military campaign.

The US president reiterated that argument on Thursday when asked about the latest price increase.

“And you know what? And we’re not going to have a nuclear weapon in the hands of Iran,” the US president told reporters.

“The gas will go down. As soon as the war is over, it’ll drop like a rock.”

However, oil prices do not drop automatically after hostilities stop. Despite the ceasefire reached on April 8, the cost of gas in the US has continued to climb.

Iran denies seeking a nuclear weapon.

Although the US is one of the largest oil producers and is not heavily reliant on energy products from the Middle East, global prices affect what Americans pay at the pump.

On Thursday, Trump stressed that Iran is all but vanquished militarily and economically – a claim he has been repeating since the early days of the conflict.

“Iran is dying to make a deal,” he said, calling the naval blockade against the country “incredible”.

Tehran has projected defiance, refusing to hold direct talks with the US until the siege is lifted, even after Trump announced last week that he was dispatching his top envoys to Pakistan to negotiate with Iranian officials.

Earlier on Thursday, Iranian President Masoud Pezeshkian suggested that Iran is running out of patience with the current situation of no war and no peace amid the US siege.

“The world has witnessed Iran’s tolerance and conciliation. What is being done under the guise of a naval blockade is an extension of military operations against a nation paying the price for its resistance and independence,” Pezeshkian said in a social media post.

“Continuation of this oppressive approach is intolerable.”