As tensions escalate in the Middle East, Americans are once again paying more at the pump.
For the first time in more than a month, the national average price for a gallon of regular gasoline has climbed above $4, according to AAA. The average reached $4.09 on Thursday, up 15 cents from a week ago, as renewed fighting involving the U.S. and Iran has disrupted global oil markets. A year ago, the national average was $3.15 per gallon.
AAA has previously noted that $4 per gallon is considered a tipping point at which many Americans begin changing their driving habits or cutting down on discretionary travel.
In Mississippi, the average price for a gallon of regular gasoline rose 15 cents over the past week to about $3.65. At this time last year, drivers in the Magnolia State were paying about $2.71 per gallon.
The latest increase follows the collapse of a ceasefire agreement between the U.S. and Iran. Fighting resumed, and renewed disruptions in the Strait of Hormuz – a critical shipping route for global oil supplies – have slowed the flow of crude oil.
Crude oil prices, the largest factor in gasoline costs, have surged amid the conflict and production disruptions. After easing to around $72 per barrel in early July, oil was trading at about $92 per barrel as of Thursday.
Despite the recent increase, Mississippi continues to have some of the nation’s least expensive gasoline. According to AAA, only Indiana has a lower statewide average, at $3.53 per gallon.
With no immediate resolution to the conflict in sight, motorists could continue to see higher prices at the pump in the coming weeks.
The Associated Press contributed to this report.