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US-Iran tensions push gas over $4, voter concern grows

7/22/2026

40 8 Full Breakdown

Summary

De Haan Warns

On July 21, 2026, regular-unleaded averaged $4.090 per gallon in New Jersey and $4.03 on Long Island, both above $4.
Officials said the rise stemmed from renewed U.S.–Iran tensions after President Donald Trump announced U.S. control of the Strait of Hormuz.
Patrick De Haan, GasBuddy’s petroleum-analysis head, warned further spikes because of the Iran war and reduced refining after attacks on Russian refineries.

Summary

U.S. Strikes

The U.S. death toll rose to 17, including 1st Lt. Tyler James Feehan and Pvt. Isabella Gonzales.
U.S. Central Command (CENTCOM) said its tenth night of strikes on July 20 hit Iranian command and missile sites.
Regional mediators offered a cease-fire proposal on July 20, the first diplomatic step since fighting resumed.
About 900 vessels, moving 450 million barrels of oil, have crossed the Strait under U.S. escort since early May.

Summary

Diesel Prices Surge

Diesel averaged $5.11 per gallon, adding pressure to grocery and freight costs.
A Gallup poll found two-thirds of Americans say fuel prices have caused household financial hardship.
The surge in fuel costs is poised to influence voter sentiment ahead of the upcoming midterm elections.
Ship crossings in the Strait of Hormuz fell to eight vessels on Thursday, far below the pre-war average of 130 per day.

History

Historical Context

After U.S. oil output peaked in 1970 and OAPEC imposed an embargo in October 1973, gasoline prices jumped and Nixon imposed price controls. A second shock followed the 1979 Iranian Revolution, when crude output fell about 4 percent and West Texas Intermediate rose 250 percent. The July 2026 Hormuz tension-driven fuel spikes echo those supply-disruption cycles.

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De Haan Warns

On July 21, 2026, regular-unleaded averaged $4.090 per gallon in New Jersey and $4.03 on Long Island, both above $4.
Officials said the rise stemmed from renewed U.S.–Iran tensions after President Donald Trump announced U.S. control of the Strait of Hormuz.
Patrick De Haan, GasBuddy’s petroleum-analysis head, warned further spikes because of the Iran war and reduced refining after attacks on Russian refineries.

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