AUSTIN, Texas — Texas gas prices rose 12 cents overnight, with the national average jumping 11 cents, following U.S. and Israeli strikes on Iran, and the closure of the Strait of Hormuz, a key global oil route.
AAA says it is the largest one-day jump in gas prices since Hurricane Katrina in 2005.
Prices for regular gas in Austin averaged $2.76 per gallon on Tuesday, up eight cents from Monday’s average of $2.68.
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Iran has also launched retaliating attacks at oil infrastructure in several oil-rich U.S. allies in the region, AAA says.