U.S. gas prices have jumped past an average of $4 a gallon for the first time since 2022.
As the war in Iran entered yet another week, prices of fuel have skyrocketed and given rise to growing concerns about a potential energy crisis. On Tuesday, the average cost of a gallon of gas in the U.
S. crossed $4 a gallon for the first time since 2022. Here’s the latest:8:15 a.m. ET: Speaking at a news conference from the Pentagon on Tuesday, Defense Secretary Pete Hegseth said he visited American service members in the Middle East. He said he wouldn’t disclose the base names or locations for operational security.Hegseth said he visited areas under the responsibility of U.S. Central Command on Saturday for about half a day."Suffice it to say, the trip was in honor," Hegseth told reporters. "I had a chance to bear witness, and I witnessed the best of America."6:50 a.m. ET: Secretary Pete Hegseth and Chairman of the Joint Chiefs of Staff will hold an on-camera press briefing at the Pentagon. The briefing is scheduled to begin at 8 a.m. ET. You can watch live in the video player above, or wherever you stream LiveNOW from FOX. 6:10 a.m. ET: According to motor club AAA, the national average for a gallon of regular gasoline is now $4.02 — over a dollar more than before the war began. The last time U.S. drivers were collectively paying this much at the pump was nearly four years ago, following Russia’s invasion of Ukraine.Drivers around the world are also coping with higher gas prices due to the war. In Paris, for example, gas is at 2.34 euros per liter , which is about $10.27 a gallon.6:00 a.m. ET: Authorities in Dubai said Tuesday morning a Kuwaiti oil tanker was attacked by Iran. Authorities said the fire had been contained and that there was "no oil leakage and no injuries reported," according to The Associated Press. Trump told the Financial Times on Monday that he is considering the idea of seizing Kharg Island. "Maybe we take Kharg Island, maybe we don’t. We have a lot of options," Trump said in the report. "It would also mean we had to be there for a while." Kharg island is Iran's primary fuel hub in the Persian Gulf, and handles the majority of its crude exports. Previously, the U.S. targeted and launched airstrikes on the island. Trump said about Iranian defenses there, "I don’t think they have any defense. We could take it very easily."The destruction or loss of the island would deny the government a major revenue source, but it would also remove even more oil from world markets at a time of soaring prices. The destruction of the terminal would severely damage Iran’s economy and would also undermine any future government that might emerge.
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