US gasoline prices hit $4 per gallon amid renewed Middle East conflict

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US gasoline prices have climbed back above $4 per gallon due to escalating fighting in the US-Iran war. This surge reignites a broader energy crisis amid a global crunch for transportation fuels. Reports indicate that crude oil is expected to reach a new all-time high by December 31 with a 12% probability. The price increase is a direct result of the renewed Middle East conflict, significantly impacting fuel costs across the United States.
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