Gas Hits $4.43, Surges 61% Since December As Strait Of Hormuz Uncertainty Drives Fuel Prices Higher

U.S. gas prices surged to $4.43 per gallon, up 61% since December, driven by uncertainty surrounding the Strait of Hormuz, reaching levels not seen since the start of the Iran war. This surge could lead to Americans spending $90 billion more on gasoline annually. The Federal Reserve is monitoring inflation linked to global energy prices and considering a rate hike.