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theguardian.comOil prices surged after negotiators remained gridlocked over reopening of strait of Hormuz, sending prices $1 higher than last yearUS gas prices rose to their highest level in four years on Thursday, reaching an average $4.18 a gallon at the pump as US-Israeli peace talks with Iran remain at a standstill.The last time average US gas prices breached $4.15 a gallon was in April 2022, when oil prices soared shortly after Russia invaded Ukraine. Average gas prices are now $1 higher than just a year ago, when they were closer to $3.15 a gallon. Continue reading...
theguardian.comChris Wright says ‘I don’t know’ when asked about lower cost of gas as average price soars to $4 a gallon in USChris Wright, the Trump administration’s energy secretary, acknowledged Sunday that it might not be until 2027 before US gas prices come back under $3 a gallon.Asked by Jake Tapper, the CNN State of the Union host, when he thought “it’s realistic for Americans to expect the gas will go back to under $3 a gallon”, Wright replied: “I don’t know. That could happen later this year. That might not happen until next year.” Continue reading...
theguardian.com• San Francisco became the first U.S. city where average diesel prices exceeded $8 per gallon due to oil supply disruptions from the Iran conflict. • National gas prices jumped above $4.11 per gallon, with a 34% increase in one month as oil topped $115 per barrel, per GasBuddy and AAA data. • The surge is squeezing household budgets and testing central banks' ability to combat inflation, with Federal Reserve Chair Jerome Powell warning of an energy supply shock.
foxbusiness.comNational average hit $4.02, according to AAA data, capping an extraordinary rise from $2.98 just a month agoAverage US fuel prices have crossed $4 per gallon for the first time in four years, piling pressure on drivers as Donald Trump’s war on Iran continues to boost oil markets.The nationwide average climbed to almost $4.02 on Tuesday, according to AAA data, capping an extraordinary rise from $2.98 just a month ago. It has not been this high since August 2022. Continue reading...
theguardian.com