Gas prices rise nearly 3 cents, continuing daily climb as tensions flare in Strait of Hormuz

National average gas prices are rising sharply amid escalating tensions in the Strait of Hormuz, disrupting global oil markets. While a temporary ceasefire between the U.S. and Iran provided a brief respite, renewed tensions and potential attacks on Iranian oil facilities are fueling concerns about supply disruptions. President Trump's efforts to reopen the waterway add to the uncertainty and risk premium in the energy market.