National Average for Gas Prices Now at $4.30 a Gallon

The war in Iran is fueling new inflation fears and higher gas prices with the national average jumping another seven cents to $4. 30 for a gallon of regular gas. It is up more than $1. 30 since the start of the war.

NBC’s Christine Romans joins TODAY to break down how the standoff in the Strait of Hormuz is impacting prices at the pump and provides analysis on the Federal Reserve’s decision to keep interest rates steady.