Gasoline prices in the United States rose on Tuesday to their highest level in four years as peace talks between the United States and Iran appeared at an impasse.
The average cost for a gallon of regular gasoline is $4.18, according to the AAA motor club. The price at the pump has not been that high since April 2022, shortly after Russia invaded Ukraine. Tuesday’s jump of 1.6 percent was the highest percentage increase in more than a month.
Oil prices continued to climb on Tuesday, with negotiators deadlocked over proposals to reopen the Strait of Hormuz to tanker traffic and restrict Iran’s nuclear program.
The price of crude oil has risen steadily over the past week, as talks have stalled during an uneasy cease-fire. Brent crude, the international benchmark, has posted gains in six of the past seven trading sessions and remains more than 40 percent higher than it was before the first U.S.-Israeli strikes on Iran in late February.
https://www.nytimes.com/2026/04/28/business/oil-gas-stocks-iran-war.html
Global oil prices top $100 a barrel again after U.S.-Iran peace talks canceled – but Tehran offers deal to reopen Strait of Hormuz
Iran reportedly proposed reopening the Strait of Hormuz in return for delaying talks on its nuclear concessions.
Axios reported late on Sunday that Iran proposed reopening the Strait of Hormuz in return for postponing talks on its nuclear concessions.
Oil futures were climbing on Monday morning after President Donald Trump canceled his U.S. envoys’ trip to Islamabad for peace talks with Iran over the weekend.
West Texas Intermediate crude saw its June contract (CL.1) (CLM26) rise 1.3% to $95.58 a barrel, while Brent crude futures for June delivery (BRN00) (BRNM26) advance 1.4% to $100.46 a barrel, according to FactSet data.