The oil price spike caused by the war in the Middle East has sparked exasperation at petrol pumps around Asia, where many economies are heavily dependent on fossil fuel imports. (Photo by Niharika KULKARNI / AFP)The average price of gasoline at US pumps has soared past $4 a gallon, the American Automobile Association reported Tuesday, the highest for nearly four years on the back of the Iran war. The average price was $4.018 per gallon as of Tuesday morning, the AAA data said on its website. In mid-2022, prices soared to $5 a gallon in the midst of the Covid-19 pandemic and after Russia’s invasion of Ukraine. Oil prices slipped on Tuesday and stocks were mixed as investors weighed the report indicating he could make a deal even if the key strait remained closed.

Source: Punch March 31, 2026 14:34 UTC