U.S. gasoline prices jumped to $3.32 per gallon on Friday, the highest level since September 2024, as crude oil topped $90 for the first time since 2023. The AAA motor club reported a 34-cent increase since the U.S.-led military operation against Iran began, marking an 11 percent surge in just days.

Oil prices surged 35.6 percent for the week, with the U.S. crude benchmark settling at $90.90 per barrel. The dramatic spike stems from disrupted Persian Gulf oil shipments and Iranian threats to tankers navigating the strategic waterway. Energy analysts note that regional instability has created insurance challenges for oil tankers, effectively choking off supply regardless of Iran's direct production levels.

The price surge threatens to become a political liability for President Trump, who has frequently touted falling gas prices during his second term. With midterm elections approaching, the rapid increases at the pump - one of Americans' most visible economic indicators - could influence voter sentiment. Airlines and shipping companies face immediate cost pressures, with United Airlines warning of 'meaningful' financial impacts from higher fuel prices.