U.S. National Average Price Per Gallon Of Gas Reaches Four-Year High

The price of Brent crude, the international benchmark that influences U.S. prices, stands at $114.60.

U.S. gas prices have reached a four-year high.

The national average price per gallon sits at $4.23. That’s up 21-cents over the last week and marks the highest price since 2022.

The price of Brent crude, the international benchmark that influences U.S. prices, stands at $114.60, up nearly 25% from the recent low seen April 17 and just a few dollars away from the recent high of $118.

Oil prices have surged over the past week amid a dual blockade by the United States and Iran of the Strait of Hormuz, the key waterway in the region for transporting crude and Petroleum-based products out of the Persian Gulf.