1 revisions for "The $4.26 Gallon: How the Iran War Rewrote American Energy Economics in Eight Weeks"
U.S. gasoline prices hit $4.26 per gallon on April 28, 2026 — a 40% increase since the Iran war began on February 28 — as the closure of the Strait of Hormuz removed roughly 13 million barrels per day from global supply. The shock is cascading through freight, food, and airline costs, triggering what economists are calling "warflation," while low-income and rural households absorb a disproportionate share of the burden.