U.S. gas prices have jumped 14% in a week, hitting an average of $3.41 per gallon after crude oil prices soared above $90 per barrel. The spike follows U.S.-Israeli military actions in Iran that disrupted Persian Gulf oil shipments, cutting global supply by roughly one-fifth. West Texas Intermediate crude climbed 35% in a single week, reaching levels not seen since 2023.

Diesel, jet fuel, and other refined products are also surging in price, creating broader economic pressure. California drivers now pay an average of $5.08 per gallon while Kansas motorists pay $2.90, highlighting regional disparities. Energy experts note that oil accounts for about 60% of gas prices, with taxes and distribution costs adding to the burden.

President Trump has indicated military priorities outweigh short-term fuel costs, while economists warn even temporary price spikes squeeze household budgets and slow economic growth. The Strategic Petroleum Reserve, with 714 million barrels capacity, remains available but analysts say it's insufficient for long-term market stabilization. Prices could stabilize once shipping routes reopen, but the economic impact may persist beyond immediate supply disruptions.