Gas prices in Chicago have risen to over $5 a gallon for the first time in four years, according to AAA. The average price for a gallon of regular gas was $5.01, up from $3.75 a year ago. Since the U.S. and Israel launched a major attack on Iran on February 28, gas prices have increased by nearly 50%. The last time gas prices reached $5 per gallon was in August 2022. The price of diesel is more impactful to the broader U.K. than just gas prices. The recent price increases are due to Iran's closure of the Strait of Hormuz, where about a fifth of the world's oil passes through, causing global oil supplies and prices to fluctuate.