Higher oil prices typically feed into higher gas prices, potentially pushing the national average back toward $4 per gallon.

Brent crude climbed above $78 and WTI gained over 3% as escalating Iran-US tensions and threats to Strait of Hormuz shipping raised global supply concerns.

Oil prices surged by more than 4% after renewed U.S.-Iran hostilities and competing claims over the status of the Strait of Hormuz reignited fears of major supply disruptions.

Iran says it will not allow Washington to intervene in the Strait of Hormuz

Oil prices climbed over 2% after U.S