Gasoline costs edged up as the conflict with Iran continued to squeeze shipping through the Strait of Hormuz, keeping Brent crude above $100 a barrel and maintaining pressure on consumers and markets. AAA reported the U.S. average for a gallon rose to $3.72 on Monday, up from $3.70 on Sunday and roughly 79 cents higher than a month earlier. Brent fell about 2.4% to $101.93 per barrel while U.S. benchmark West Texas Intermediate declined 4.1% to $94.62 after earlier spikes above $102 drove energy prices sharply higher since the fighting began.
Iran’s repeated attacks and interdictions have left the strategic waterway — through which about 20% of exported oil and natural gas normally moves — largely paralyzed, interrupting global energy flows. Tehran says it is defending the strait and has at times blocked or severely limited traffic, actions that have prompted international alarm and volatile market reactions.
President Trump has urged other nations to help reopen the Strait of Hormuz, saying he has been in contact with roughly seven countries and pressing allies and major importers, including China, to provide naval support. The White House argues that countries benefiting from stable oil supplies should assist and has indicated it will soon announce participating partners. Trump also suggested he might delay a planned trip to China while coordinating efforts over the strait.
European leaders have sought clearer strategic goals before committing forces. The EU is weighing options, including expanding naval missions and forming coalitions of the willing, while Britain said it will work with partners on a ‘viable collective plan’ but warned that reopening the strait will be difficult. Military analysts say assembling sufficient ships and mine-countermeasure capabilities will likely take weeks, and an effective escort operation would require further degradation of Iran’s offensive reach.
There are limited signs of negotiated passage: maritime tracking data showed a non-Iranian tanker recently transited the strait with its identification signal on, suggesting selective safe passage may be possible. Still, the wider disruption persists, keeping oil prices elevated and contributing to market volatility. U.S. stocks fell earlier in the conflict as oil surged but recovered when crude eased slightly, while policymakers continue to weigh diplomatic and military measures to restore maritime traffic and relieve energy-price pressures.