Gasoline prices inched higher as the war with Iran continued to choke shipping through the Strait of Hormuz, keeping Brent crude above $100 a barrel and keeping pressure on consumers and markets. AAA data showed the U.S. average for a gallon of gas rose to $3.72 on Monday, up from $3.70 on Sunday and about 79 cents higher than a month earlier. Brent crude slipped about 2.4% to $101.93 per barrel while U.S. benchmark West Texas Intermediate fell 4.1% to $94.62, after earlier spikes above $102 pushed energy costs sharply higher since the conflict began.
Iran’s sustained attacks and interdictions have left the strategic strait — through which roughly 20% of exported oil and natural gas normally passes — largely paralyzed, disrupting global energy flows. Iranian officials say they will defend the strait and have at times blocked or heavily limited traffic; Tehran’s moves have prompted international concern and dramatic market reactions.
President Trump has publicly urged other nations to help reopen the Strait of Hormuz, saying he is in contact with about seven countries and pushing allies and major importers, including China, to contribute naval support. The White House argues countries benefiting from stable oil supplies should assist; the administration has suggested it will announce participating partners soon. Trump also indicated he may delay a planned trip to China while coordinating over the strait.
European leaders have sought clearer strategic objectives before committing forces. The EU is discussing options, including expanding naval missions and forming coalitions of the willing, while Britain said it will work with allies on a “viable collective plan” but warned reopening the strait will be difficult. Military experts say getting enough ships and mine-countermeasure capabilities into place will likely take weeks; an effective escort operation would first require further degradation of Iran’s offensive capabilities.
There are signs of limited negotiated passages: 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 broader disruption persists, keeping oil prices elevated and contributing to market volatility. U.S. stocks slipped earlier in the conflict as oil surged but rallied when crude eased slightly, while policymakers weigh diplomatic and military options to restore maritime traffic and ease energy-price pressures.