STORY: The average retail price of gas in the U.S. crossed $4 a gallon for the first time in more than three years, as the U.S.-Israeli war with Iran continues to roil global energy markets.
That's according to data from price tracking service GasBuddy, representing a 36% jump in the price of gas since the conflict began at the end of February.
The $4 per gallon milestone was last reached in August 2022 following Russia's invasion of Ukraine. Some analysts expect this price spike to be shorter-lived.
ANTONIO GOMEZ: "Gas prices right now, it's insane..."
But in the meantime, drivers are feeling the strain, including at this gas station in New York City, which was charging more than $5 per gallon.
JUSTIN CABA: "I mean, this is downtown but $5 is still a little bit, you know, outrageous..."
JAN: "I will say that every time I'm pulling up to a gas station now, it's a little bit of a hesitation to like, know that, like, it's going to cost a bit more than it did, you know, before."
Surging fuel prices have started to weigh on U.S. household finances, which were already grappling with the rising cost of many goods.
Some 55% of respondents in a Reuters/Ipsos poll said the increase in gas prices had taken "somewhat" of a toll on their household finances.
Prices at the pump have also become a political headache for President Donald Trump and his Republican Party ahead of the November midterm elections, as they campaign to hold onto thin majorities in Congress.
Trump had vowed to lower energy prices and ramp up U.S. oil and gas production.
But so far, much of his second term has been marked by volatile markets, geopolitical turmoil and shifting policies on issues such as tariffs.
