US gasoline hits 4-year high as Iran war squeezes supply

US gasoline prices climbed to a four-year high of $4.17 per gallon, up $1.19 per gallon (+28%) since the Iran war began on Feb. 28. US oil futures have been trading near $99 a barrel, more than 50% above prewar levels. Iran's closure of the Strait of Hormuz has disrupted roughly 20% of global oil supply.