ROCK SPRINGS — Gas prices are hitting the $4 level.
According to AAA, the national average is $3.98 a gallon, with the Wyoming average being lower at $3.77 as of Wednesday. In Sweetwater County, the average is $3.80 a gallon, though some gas stations have listed higher prices. Maverik has advertised prices in line with the national average for its regular gas, showing a price of $3.99 in Rock Springs while mid-grade and premium have crossed the $4 mark. Some counties are seeing higher prices than the Wyoming average, with AAA noting the averages Teton, Platt and Lincoln Counties being above $4. Teton County has the highest average price per gallon in Wyoming at $4.11.
Fuel prices have increased due to conflict between the United States and Iran, which resulted in the closure of the Strait of Hormuz between Iran and Oman. The strait connects the Persian Gulf to the Arabian Sea and is an important shipping lane for crude oil. According to the U.S. Energy Information Administration (EIA), the strait is a critical oil chokepoint, with an average of 20 million barrels transported through it per day.
“Chokepoints are narrow channels along widely used global sea routes that are critical to global energy security,” the EIA notes. “The inability of oil to transit a major chokepoint, even temporarily, can create substantial supply delays and raise shipping costs, potentially increasing world energy prices.”
The University of Colorado Boulder’s CU Boulder Today notes the price of oil is set in the international market, with gas prices being regionally influenced while hinging on the price of oil. Due to the Strait of Hormuz’s closure, exporting oil from Middle Eastern countries has gotten more expensive and impacted the world supply, resulting in higher prices for refined fuels.
According to the New York Times, Iran recently said “non-hostile ships,” identified as ships without ties to either the U.S. or Israel, can start using the strait.
