Gasoline price climbs 31 cents in past week, crossing $4.50 a gallon

The average price of gasoline in the U.S. has increased to $4.53 a gallon, a 31-cent rise in one week and a 50% increase since the start of the U.S. and Israel's war against Iran. This surge is largely attributed to Iran's response of closing the Strait of Hormuz. The closure affects oil and energy transportation.