US gas prices surge to highest level in four years, averaging $4.15 a gallon

Oil prices surged after negotiators remained gridlocked over reopening of strait of Hormuz, sending prices $1 higher than last year

US gas prices rose to their highest level in four years on Thursday, reaching an average $4.18 a gallon at the pump as US-Israeli peace talks with Iran remain at a standstill.

The last time average US gas prices breached $4.15 a gallon was in April 2022, when oil prices soared shortly after Russia invaded Ukraine. Average gas prices are now $1 higher than just a year ago, when they were closer to $3.15 a gallon.