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The price of a gallon of regular gasoline climbed 31 cents in the past week, spiking to an average of $4.48 per gallon Tuesday, according to AAA. That's up 50% since the war with Iran began. Many drivers were hopeful in mid-April, amid signs that the conflict could be winding down, and gasoline prices fell daily for almost two weeks. But as the war continued, gasoline prices reversed course and began increasing again. And energy experts say that even once the war ends, it will take months for gasoline prices to return to pre-war levels.

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Ukrainian authorities say Russian drone and missile strikes during the night and into daylight hours have killed at least 22 people and wounded more than 80 others. President Volodymyr Zelenskyy on Tuesday criticized Moscow for launching the attacks after Russia announced a temporary unilateral ceasefire for later this week. Russia’s Defense Ministry declared a ceasefire for Friday and Saturday. But it warned of retaliation if Kyiv disrupts Victory Day festivities. Ukrainian forces have also continued their attacks on Russian areas by targeting oil facilities. Russia said that it destroyed 289 Ukrainian drones overnight across 18 regions. Both sides remain deeply mistrustful of each other, which is complicating ceasefire efforts.

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U.S. forces are pressing ahead with an effort to guide commercial ships through the Strait of Hormuz. So far only two ships, both of them American-flagged merchant vessels, are known to have passed through. Central Command said its effort to establish a safety corridor involves guided-missile destroyers, more than 100 aircraft and 15,000 service members. Defense Secretary Pete Hegseth said U.S. forces prefer a peaceful effort to “guide” the more than 22,500 mariners stuck on more than 1,550 vessels out of the Persian Gulf. But they're ready if needs change. Iran denounced the move as a ceasefire violation. Hegseth said the ceasefire remains in effect.

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The U.S. stock market rose to records after oil prices eased and companies kept reporting bigger profits for the start of the year than analysts expected. The S&P 500 climbed 0.8% Tuesday and topped its prior all-time high set at the end of last week. The Dow Jones Industrial Average added 0.7%, and the Nasdaq composite gained 1% to set its own record. Stocks got a boost after oil prices gave back much of their big jumps from Monday, and Brent crude fell 4%. DuPont rallied after the chemical giant led another cavalcade of companies reporting better profits than analysts expected.

U.S. military leaders say a ceasefire with Iran is still in effect a day after Tehran was blamed for new attacks in the Strait of Hormuz and against the United Arab Emirates. The UAE, a key American ally, said it came under attack by Iranian missiles and drones for a second day on Tuesday. Still, the fragile truce reached nearly a month ago appeared to be holding. U.S. forces are pressing ahead with efforts to reopen the strait, a vital waterway for global energy. It’s unclear whether U.S. military action can reassure shippers without reigniting the conflict. A spokesman for Iran's joint military command denied striking the UAE “in recent days.”