The average price of a gallon of gasoline increased by 11 cents overnight, according to the American Automobile Association.

U.S. crude oil reportedly increased by 8.6% to $77.36 per barrel on Tuesday (March 3), levels not previously seen in more than a year amid the United States and Israel's attacks on Iran as part of Operation Epic Fury, the ongoing major combat operation that resulted in the death of Iranian Supreme Leader Ali Khamenei. The strait at the southern end of the Persian Gulf is responsible for 20% of the global oil supply and tanker traffic has dropped significantly amid a disruption of satellite navigation systems since reported attacks on several vessels in the area.

A bomb-carrying drone reportedly struck an oil tanker in the Gulf of Oman on Monday (March 2), which resulted in the death of one mariner, Oman officials confirmed via ABC News. Six U.S. service members were killed in action during Operation Epic Fury, the United States Central Command announced on Monday.

The Iranian regime gave a public warning claiming it was preparing to launch “the most devastating offensive operation in the history of the Islamic Republic of Iran’s armed forces" against U.S. bases at any moment while confirming the death of Khamenei during an attack by American and Israeli force.

“The most devastating offensive operation in the history of the Islamic Republic of Iran’s armed forces will begin toward the occupied territories and American terrorist bases in just moments,” the regime said via the semi-official Fars News Agency at around 6:15 a.m. local time.

Iran has launched retaliatory attacks on Israeli and American assets in Qatar, the United Arab Emirates, Kuwait, Bahrain, Jordan, Saudi Arabia, Iraq and Oman in the hours following reports of Khamenei's death.

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