Gas prices in the U.S. jumped another 5 cents on Wednesday, reaching an average of $4.23 per gallon, according to data from AAA.
The increase means prices are up 21 cents in just the last week. This marks the largest weekly gain for gas prices since March.
Wednesday's price increase marks the highest average gas prices in nearly four years, when the high was driven by the start of the Ukraine-Russia conflict in 2022.
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Since the war in Iran began on Feb. 28, gas prices have increased an average of $1.25 per gallon, AAA data showed. Experts have said that breaking the highest recorded average gas price of $5.02 per gallon in 2022 is not out of the question during this current crisis.
The war in the Middle East prompted Iran to close the Strait of Hormuz, which is a critical route for the transport of about one-fifth of the global oil supply.
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