Nationwide gasoline prices began rising again on Thursday and Friday after dropping steadily since late May, according to the American Automobile Association (AAA).
From Thursday to Friday, the price for a gallon of regular gasoline increased roughly 4 cents, from $3.84 to $3.88. From Wednesday to Thursday, it increased by 5 cents, from $3.79 to $3.84, according to AAA figures.
The increase, in part, was blamed on renewed fighting between the United States this week, with both sides launching attacks in the Middle East. U.S. President Donald Trump on Friday declared that a months-long ceasefire was over but left the door open for talks between the two sides.
“Crude oil prices are currently in the $70 per barrel range but could rise if volatility lingers along the Strait of Hormuz,” AAA said in an analysis on Thursday. “Prices are still lower than they were in the spring when the national average peaked at $4.56 on May 21.”
A week ago, the average price for regular gas stood at $3.82 per gallon, AAA figures show. A month ago, the price stood at $4.15, according to the data.
Meanwhile, the price of a gallon of diesel rose roughly 4 cents, from $4.81 to $4.85, on Friday. That’s significantly lower than the $5.30 per gallon recorded by AAA a month ago.
The two states with the highest prices on Friday are Hawaii and California, both at well above $5 per gallon. The average prices recorded in Washington state, Alaska, Nevada, Oregon, Idaho, and New Mexico were $4 or above, the AAA data show.
As of early Friday afternoon, oil prices have hovered around $75 per barrel of Brent crude, far lower than the $120 per barrel recorded in May, at the height of the recent surge in prices.
Three commercial tankers came under fire in the Strait of Hormuz this week, prompting U.S. forces to strike Iranian military sites. Tehran responded by launching attacks at American military bases in neighboring Gulf countries on Thursday, although no attacks from either side were reported Friday.
“The Islamic Republic of Iran has asked us to continue ’talks.' We have agreed to do so, but the United States has stated to them, in no uncertain terms, that the Cease Fire is OVER!” Trump wrote in a post on Truth Social on Friday morning.
The two nations reached an interim deal under a memorandum of understanding last month to end a four-month conflict, setting up a 60-day window to hash out technical details on Iran handing over or diluting its enriched uranium, ending its controversial nuclear program, and reopening the Strait of Hormuz. Iranian officials have said, through state-run media, that ships should follow only routes in the strait approved by Iran.
The U.S. Central Command said its actions against Iran this week were aimed at keeping the strait open and that Iran did not control the waterway. Tehran, however, warned through state-run media that the strait would only be reopened on its terms and that any U.S. intervention would be met with a response.
The increase in hostilities came as Iran on Thursday buried its slain top leader, Ayatollah Ali Khamenei, at a shrine in Mashhad, Iran, capping a week of funeral processions and rallies.
His son, Mojtaba Khamenei, was named as his replacement in March, but he has not been seen in public since the war began in late February.
