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Gas prices soar to record levels due to war with Iran
Apr 29, 2026, 12:13 PM10
(Update: Apr 29, 2026, 12:13 PM)
business
impactful
informative
Gas prices soar to record levels due to war with Iran
- U.S. gas prices reached a record high of $4.23 per gallon amid the ongoing war with Iran.
- The surge in gas prices is influenced by a blockade affecting the Strait of Hormuz, causing oil prices to rise nearly 25%.
- The increase in fuel costs poses risks to household budgets, especially for lower-income families, although current spending on gasoline remains lower than previous peaks.
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2026 All rights reserved