Average price of gas in the U.S. tops $4 per gallon

(NBC, KYMA) - The average gas prices across the U.S. have topped $4 per gallon for the first time since 2022.

As of Tuesday morning, the average price nationwide was $4.02 per gallon, according to AAA.

That unwelcome benchmark was reached as U.S. oil prices settled above $100 per barrel as the war with Iran continues.

The price for U.S West Texas Intermediate crude oil has risen more than 50% since the war began on February 28, and the average price of unleaded gas has spiked more than a dollar per gallon.

The price of diesel fuel has also jumped, which is now at an average of $5.45 per gallon, more than $1.80 higher than it was a year ago.

In response to strikes by the U.S. and Israel, Iran effectively blocked ships from passing through the Strait of Hormuz, a critical shipping channel off its southern coast.

Typically, more than 20% of the world's oil supply moves through the waterway, but Iran has repeatedly threatened to attack ships if they move through the strait without permission, or if they're associated with the U.S. or Israel.

Several tankers have already been hit.

As a result, many tankers are stranded in the Persian Gulf, unable to deliver their products to markets.