US gas prices hit the highest level since the Iran war began, at $4.18 per gallon
US gas prices climbed on Tuesday to their highest level in four years as peace talks between the US and Iran are at a standstill.
The national average gas price is currently $4.18 per gallon, according to the American Automobile Association. The 1.6% rise is the highest percentage increase in more than a month — and the last time the price of gas was this high was in April 2022 following Russia’s invasion of Ukraine.
Less than a week ago, AAA reported that US gas prices had gone down to $4.03 per gallon, giving drivers a very brief sigh of relief.
Oil prices also continued to rise on Tuesday as negotiations over reopening the Strait of Hormuz remain at a deadlock. Additionally, the UAE made a bombshell announcement that it’s leaving OPEC, adding to the disruption in the oil market.
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)
We’re halfway through the last week of April and prediction markets currently show traders pricing in a 73% chance that the price of gas could rise above $4.24 with just a few days left in the month.
Oil prices also continued to rise on Tuesday as negotiations over reopening the Strait of Hormuz remain at a deadlock. Additionally, the UAE made a bombshell announcement that it’s leaving OPEC, adding to the disruption in the oil market.
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)
We’re halfway through the last week of April and prediction markets currently show traders pricing in a 73% chance that the price of gas could rise above $4.24 with just a few days left in the month.
