US Gas Prices Jump Toward 2022 Peak as Hormuz Turmoil Bites

U.S. average gasoline prices topped $4.50 a gallon (per GasBuddy), the highest since mid-2022, with California well over $6 in many spots, as ongoing Strait of Hormuz disruptions and the Iran conflict push crude higher and tighten fuel inventories; analysts warn the summer driving season could bring further gains, with overall prices about $0.50 below the 2022 all-time high.