National gas average nears $4 as Strait of Hormuz supply fears grow

CASPER, Wyo. — Natrona County’s streak as a haven for cheap fuel is firmly in the rearview mirror as local gas prices jumped another 20 cents this week, bringing the total increase to $1.09 over the last 21 days. The national average rose 24.3 cents over the last week to $3.92 per gallon, according to GasBuddy, and now sits just 8 cents shy of the $4 mark.

“It now appears increasingly likely that the national average price of gasoline will reach the $4-per-gallon mark—potentially as early as this week—for the first time since 2022,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “There are few signs of stabilization so far, as global oil prices continue to climb.”

Wyoming’s state average rose 27 cents to $3.72 per gallon, AAA reported. Natrona County’s average rose to $3.60, once known for offering the state’s cheapest fuel but now falling in the middle range. The cheapest fuel in the county today is $3.44 at Sam’s Club, followed by $3.47 at Ridley’s Family Market.

Oil markets saw early pressure ease Monday after President Trump said he would pause potential strikes on Iran’s energy infrastructure for five days following reported talks with Tehran. WTI crude fell $5.63 to $92.60 per barrel, while Brent dropped $6.58 to $105.61. Despite the pullback, both benchmarks remain elevated, reflecting how quickly geopolitical risk had been priced into the market.

All eyes will now be on whether these talks materialize and lead to any de-escalation. A reduction in tensions could ease concerns over disruptions through the Strait of Hormuz—the critical chokepoint that carries roughly 20% of global oil flows. Any sign that transit risks are diminishing would likely put further downward pressure on prices.