U.S. gas prices have edged up again as tensions between the U.S. and Iran heighten over the Strait of Hormuz, lifting oil costs and working their way into pump prices. In California’s Central Valley, station owners reported increases over the past two weeks, with some saying prices rose by dozens of cents as the situation escalated. Retailers also noted financial strain from higher fuel-related taxes and reduced consumer spending. Gas prices could continue trending higher if the risks around Hormuz persist.
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