WASHINGTON — Gas prices climbed sharply in parts of the United States this week as disruptions to the global oil market pushed the national average toward its highest level of the year.
The national average for regular gasoline reached about $4.47 a gallon Friday, according to AAA. The average stood at $4.43 on Thursday, up 16 cents from the previous week and more than $1 higher than a year ago.
Some parts of the Midwest saw gasoline prices jump as much as 25 cents a gallon overnight.
The increases followed continued disruptions to global oil supplies amid the U.S.-led war against Iran. Oil markets have faced additional pressure from disruptions involving a major Saudi Arabian oil pipeline, which analysts say could affect supplies for weeks.
Rystad Energy told The Associated Press that between 2.6 million and 4 million barrels of oil a day had moved through the pipeline and out of the Red Sea port of Yanbu since late August. The company said that volume now faces the risk of leaving the global market.
The Strait of Hormuz has also remained a major factor in oil markets. The waterway previously carried roughly one-fifth of the world’s oil supply before Iran closed it following attacks from the United States and Israel.
AAA said crude oil prices averaged about $100 a barrel this week as volatility around the Strait of Hormuz continued. The national gasoline average remains below the all-time record of $5.01 a gallon set in June 2022.
President Donald Trump said Thursday that higher gas prices represented a small cost for the U.S. war against Iran during a rally in North Carolina.
“It’s a very inexpensive price to pay for what we’ve done,” Trump said, according to The Hill. He also said gasoline prices would eventually fall sharply.
The higher prices have also emerged as an issue ahead of the November midterm elections. A recent Fox News poll found that voters continue to cite gas prices and the broader cost of living as major economic concerns.
