Day 38 of Middle East conflict — Trump press conference, Iran rejects 45-day ceasefire proposal. | CNN

• Follow the latest updates on the war with Iran here. The average price of a gallon of US regular gas edged up another 2 cents Tuesday, reaching $4.14 in the latest reading from AAA. That increase means prices are now up 39% since the start of the war in Iran. Last week, the average price crossed the $4 a gallon mark for the first time since 2022. Prices have increased all but three days since March 1, and those three declines were by an almost imperceptible fraction of a penny that left prices unchanged each day when rounded to the nearest cent. President Donald Trump has vowed attacks on Iran’s power plants and bridges if Iran does not move to reopen the Strait of Hormuz by 8 pm ET Tuesday. That is a vital channel that has been closed to about about 20% of the world’s oil supply since the start of the war. Oil futures were only slightly higher in early trading Tuesday as traders were waiting to see if Trump backs off on this latest deadline as he has earlier in this war – reversals that caused sharp drops in oil prices. While relatively little Middle Eastern oil makes its way to America, which is the world’s largest oil producer, the strait’s closure has roiled globa