JPMorgan analysts predict that U.S. gasoline prices could exceed $5 per gallon in April due to the ongoing conflict in Iran, which is disrupting oil supply through the Strait of Hormuz. While the U.S. is less likely to face shortages compared to Asia, consumers may still experience significant price increases, particularly in states like California.

• 01Gas prices in the U.S. could exceed $5 per gallon by April due to disruptions in oil supply caused by the Iran conflict.
• 02The U.S. is less exposed to fuel shortages than Asia, thanks to substantial domestic oil production.
• 03California is particularly vulnerable to price increases, with current averages nearing $6 per gallon.
• 04The closure of the Strait of Hormuz is estimated to remove up to 15 million barrels of oil per day from the global market.
• 05Rising gasoline prices could exacerbate inflation concerns and affect consumer spending.

Higher gas prices could lead to increased costs for consumers, impacting their budgets and contributing to inflationary pressures.