WASHINGTON (April 29, 2026) – U.S. gas prices have reached their highest level in four years, averaging $4.18 per gallon. The last time prices were this high, was in April 2022 when Russia invaded Ukraine.
Oil prices are rising since negotiations to reopen the Strait of Hormuz remain stagnant. This waterway is where a fifth of the world’s oil and natural gas passes through. In addition, the UAE is exiting the Organization of the Petroleum Exporting Countries (OPEC), which is a group of major oil-producing nations that influences global oil prices.
For more information on these developments, please consider Robert Weiner, professor at the George Washington University School of Business and director of the MS in International Business program. Weiner can provide insight into the intersection of energy, business strategy, and geopolitical risk. His research focuses on the global petroleum industry, natural-resource economics, and international business strategy, helping explain how government action and market forces shape corporate decision-making worldwide.
To schedule an interview, please reach out to Nadia Payne, nadia [dot] payne
gwu [dot] edu (nadia[dot]payne[at]gwu[dot]edu).
-GW-