The Treasury Department will announce measures to combat rising energy prices amid the U.S.-Israeli strikes against Iran as soon as Thursday, Reuters reported. 

As the conflict in the Middle East nears the one-week mark, oil prices have risen and consumers are seeing an impact at the pump. Iran closed the Strait of Hormuz in response to the strikes, choking off a crucial shipping lane.

The per-barrel price of West Texas Intermediate crude oil, the benchmark for the U.S., is more than $79.70 as of Thursday afternoon. That is an increase of more than 25 percent relative to a month ago. 

The average price for a gallon of regular gas increased to $3.25 Thursday, up from $2.98 a week ago and $2.89 a month ago, according to AAA. One year ago Thursday, the average price of gas was nearly $3.11. 

Patrick De Haan, head of petroleum analysis at GasBuddy, wrote on the social platform X earlier Thursday that “it’s really starting to feel like March 2022 again,” when gas prices rose sharply after the Russian invasion of Ukraine roiled supply chains. 

De Haan later said that the current increase in the seven-day rolling diesel average is 45.5 cents per gallon, the 10th-highest on record. The nine stretches before the current one all occurred in 2022. 

Secretary of State Marco Rubio said Monday that Energy Secretary Chris Wright and Treasury Secretary Scott Bessent will implement a program to offset rising oil prices.