The national average price for gasoline in the United States rose to $4.00 per gallon on Monday, according to data from AAA. This marks a return to the $4 threshold after a brief decline in June. Prices are currently 86 cents higher than they were at the same time last year, following a peak of approximately $4.56 in mid-May.
The price increase follows a renewal of naval hostilities in the Strait of Hormuz, where tanker traffic has been disrupted. The Trump administration recently reinstated a naval blockade in the waterway as a memorandum of understanding between the U.S. and Iran dissolved. U.S. Central Command stated that recent military actions were in response to Iranian attacks on commercial shipping.
President Trump met with advisors in the Situation Room on Tuesday to discuss potential military options. The administration is reportedly considering an offensive that would exceed the scope of the current bombardment. Meanwhile, international shipping companies and foreign governments are investigating alternative routes to bypass the Strait of Hormuz to mitigate market disruptions.
Public polling indicates varying perspectives on the administration's handling of the situation. Some surveys suggest a majority of Americans attribute the rising fuel costs to the administration's foreign policy, while two-thirds of households report financial hardship due to current energy prices. According to recent polls from Reuters/Ipsos and Quinnipiac, approximately 60 percent of respondents expressed disapproval of the current approach to the conflict with Iran.