ECONOMY

United States gas prices surge as Hormuz conflict resumes

PUBLISHED Jul 20, 2026, 12:23 PM ET

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On Monday, July 20, 2026, the average U.S. price for a gallon of regular gasoline reached $4.003, according to AAA data, returning to a level that heightens concern about consumer costs and inflation. The national average rose 13 cents in a week and stands 86 cents higher than a year earlier, when it was $3.14. Analysts link the spike to the breakdown of a Pakistani-mediated interim ceasefire between the United States and Iran, which had allowed a brief reopening of the Strait of Hormuz. Renewed hostilities and a U.S. naval blockade have sharply curtailed shipping, pushing Brent crude above $90 a barrel.

By Mahnoor A. | JQJO News

Timeline of Events

Early July 2026 Brent crude trades near seventy dollars
June 2026 Pakistan brokers interim U.S.-Iran ceasefire
June 2026 Strait of Hormuz shipping partially resumes
Past week Ceasefire collapses amid renewed hostilities
Past week U.S. reimposes naval blockade around Iran
Monday Brent crude jumps above ninety dollars
Monday U.S. gasoline average reaches four dollars
Monday Inflation concerns rise during peak driving

News Intelligence

Your wallet is feeling this gas price surge. It's tied to renewed conflict in the Strait of Hormuz. That's a key oil shipping route. Higher prices at the pump could also drive up costs for goods and services.