ORLANDO, Fla. \u2013 Central Florida drivers woke up to sticker shock after gas prices topped $4 a gallon overnight.<\/p>\n
According to motor club AAA, the average cost for a gallon of regular gasoline in Florida is $3.93, up 7 cents from Tuesday. In Orlando, the average cost for a gallon is $3.96. <\/p>\n
The Iran war<\/a> has rattled the global flow of oil, with steeper fuel costs already straining households<\/a> worldwide. And in the U.S., drivers are now facing the highest prices they\u2019ve seen at the pump in nearly two and a half years.<\/p>\n As for the national average, AAA reported it jumped to $3.84 on Wednesday, up from $2.92 consumers were paying before the U.S. and Israel launched the war with joint attacks against Iran on Feb. 28. The last time gas prices were as high as they are now was in October 2023.<\/p>\n \u201cIt\u2019s pretty hard. I mean, times are tough for everybody right now,\u201d Amanda Acosta, a Louisiana resident, told The Associated Press while filling up her car\u2019s tank this week. \u201cI\u2019m getting way less gas and paying way more money.\u201d<\/p>\n She isn\u2019t alone. Pain at the pump has been one of the most immediate economic impacts of the conflict, because the price of crude oil \u2014 the main ingredient in gasoline \u2014 has soared and swung rapidly in recent weeks, due to supply chain disruptions<\/a> and cuts from major producers across the Middle East. Brent crude, the international standard, settled at over $103 a barrel<\/a> on Tuesday, up from roughly $70 just weeks ago. And benchmark U.S. crude topped $96 a barrel.<\/p>\n Many eyes are on the White House. Before the war, President Donald Trump once bragged about<\/a> keeping gas prices low. But he\u2019s since pivoted to try and paint high oil prices as a positive outcome<\/a> for the U.S. Last week, Trump said that because the U.S. is now largest crude producer<\/a> in the world, \u201cwhen oil prices go up, we make a lot of money.\u201d<\/p>\n Companies that supply oil benefit from higher prices. But steeper costs always pinch consumers\u2019 wallets \u2014 and today\u2019s rising prices arrive as many households continue to face wider cost of living strains. It could also push up already stubborn inflation<\/a>, at least in the short run, and potentially hammer the economy more significantly if steep costs drag on. Experts say that that could apply more pressure on the Trump administration, particularly as affordability<\/a> continues to stay at the top of voters\u2019 minds.<\/p>\n [WATCH: 3 apps to save money at the gas pump]<\/p>\n Search for more supply and uncertainty ahead<\/p>\n The U.S. is now a net exporter of oil \u2014 and other parts of the world that rely more heavily of fuel imports from the Middle East, notably Asia<\/a>, have seen more stark energy shocks amid the war. But that doesn\u2019t mean America is immune<\/a> to price spikes. <\/p>\n Oil is a globally-traded commodity. And most of what the U.S. produces is light, sweet crude \u2014 but refineries on the East and West coasts are primarily designed to process heavier, sour product. As a result, the country also needs imports.<\/p>\n The road ahead is uncertain, and prices could worsen if the war drags on. Iran has effectively halted nearly all tanker movement in the key Strait of Hormuz<\/a>, where roughly one-fifth of the world\u2019s oil once sailed through on a typical day. That\u2019s led to cuts from some major producers in the region, because their crude has nowhere to go. Trump has demanded<\/a> that other countries send warships to reopen the waterway, but has yet to garner sign-ons<\/a> as many ask for more clarity<\/a> about America\u2019s next steps for the war. Meanwhile, Iran, Israel and the U.S. have all struck oil and gas facilities.<\/p>\n All of this has left countries scrambling for other supply. Last week, the International Energy Agency pledged to release 400 million barrels<\/a> of oil available from its member nations\u2019 stockpiles. Trump, who previously downplayed the need to tap into reserve oil, later confirmed that the U.S. would pull 172 million barrels from the Strategic Petroleum Reserve<\/a> as part of the IEA\u2019s effort. The administration also announced it will temporarily free up Russian oil<\/a> from U.S. sanctions for its war on Ukraine.<\/p>\n