US Gas Prices Have Jumped 50% Since Beginning Of Iran War As Supply Shock Pushes Costs Higher

Source: International Business Times

The Energy Information Administration estimates that taxes contribute about 17% of the pump price, while refining and distribution costs make up the remainder. AFP Gasoline prices in the United States have climbed sharply since the start of the Iran war, with the average cost of regular fuel now about 50% higher than before the conflict began. The national average price for regular gasoline rose 31 cents in the past week to $4.