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How Much Gas Prices Have Risen Since The Iran War
Gas prices have surged across the U.S. following the outbreak of the Iran War, with the magnitude of the increase varying by state. Iowa experienced the largest percentage jump, with prices rising 69.1% from $2.45 to $4.14 per gallon. Oklahoma also saw a significant increase of 68.8%, and several other states experienced hikes exceeding 60%. Many states with the largest percentage increases began with lower pre-war prices, amplifying the percentage change. Nationally, the average increase is about $1.25 per gallon, a nearly 44% rise. This surge is due to a global oil supply disruption caused by the Iran War, which closed the Strait of Hormuz. Higher crude prices ripple through the economy, affecting products beyond gasoline. States with the smallest percentage increases, like California, Hawaii, and Washington, were already paying the most due to factors like high fuel taxes and specific state policies. California's mandated fuel blend and Hawaii's island logistics contribute to their consistently high prices. Despite smaller percentage gains, these states remain the most expensive for gasoline.