U.S. gasoline prices hit $4.55 per gallon

The national average price for regular gasoline reached $4.55 a gallon on Friday, according to data cited by CNBC. That figure is more than 50 percent higher than the level recorded when the conflict began on Feb. 28. A Brown University tracker placed the added cost to U.S. consumers at $44.9 billion as of Friday.

The estimate includes $24.97 billion in extra gasoline spending and $19.85 billion in higher diesel costs.

Price surge and supply disruption The increase stems from the blockade of the Strait of Hormuz and attacks on regional energy infrastructure. Crude oil prices have risen more than 40 percent above pre-conflict levels. GasBuddy petroleum analyst Patrick De Haan told CNBC that gasoline could exceed $5 a gallon in June if shipping through the strait remains restricted.

Diesel prices have risen even faster, with some forecasts pointing to levels above $6 a gallon.

Economic effects and mitigation steps Officials have coordinated with the International Energy Agency to release 400 million barrels of oil and refined products, including 172 million barrels from U.S. reserves. A White House spokesman stated that the administration anticipated short-term market disruptions and implemented measures to limit impacts.

Scott Martin, a partner at Kingsview Wealth Management, told The Post that the $44 billion figure likely understates broader effects. Higher diesel costs raise transportation and shipping expenses that eventually appear in grocery prices, retail goods, and airfares.

Martin added that many households already carry higher credit card balances and face lingering inflation. Prolonged elevated fuel prices could lead consumers to reduce discretionary spending and travel, he said.