U.S. Gasoline Prices Rise for First Time Since May as Iran Ceasefire Collapses

U.S. gasoline prices have increased for the first time since May, with the sudden reversal directly tied to the collapse of the tentative ceasefire between the U.S. and Iran.

According to AAA data, the U.S. national average price of gasoline clocked in at $3.8590 per gallon on Tuesday, up from $3.7900 a week ago after the end of the ceasefire sparked renewed military exchanges and disruptions in the critical Strait of Hormuz.

According to data compiled by GasBuddy, nearly 80% of states saw retail price increases, mirroring a similar rally in crude…