Gasoline prices jumped as much as 9% Monday after US and Israeli attacks on Iran disrupted shipping through the Strait of Hormuz, threatening to derail one of President Trump's key economic talking points. Retail prices hit $3 a gallon in the US, the highest in three months, as tanker traffic through the critical waterway all but ceased.

Global oil futures surged 14%, their biggest jump in four years, with crude accounting for about half of what motorists pay at the pump. The price spike comes as Trump frequently touts falling gasoline prices, claiming last week they were below $2.30 a gallon in most states even as the national average was $2.98. Energy analysts warn the run-up in prices could become a significant political liability as midterm elections approach.

Republicans already face criticism over rising electricity bills, but gasoline prices carry special political weight as one of the most visible inflation indicators. Voters typically blame the White House when prices rise at the pump. While Trump often takes credit for falling gas prices, presidents have limited control over energy markets. The US Strategic Petroleum Reserve, containing about 415 million barrels, remains one of the few tools available to influence prices, though it's only half full after recent drawdowns.