Iran, Oil Prices
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The national average cost of a gallon of regular gasoline has increased 22 cents since Friday, to $3.54, according to AAA. The jump was most acute between Friday and Monday. Utah experienced the steepest increase of any state,
Gas prices are barreling toward $4 per gallon as oil slows out of the Strait of Hormuz—but the White House says a reversal is coming soon.
With the Middle East conflict driving volatility in oil and gas prices, electric vehicle drivers who charge at home are reaping rewards.
House Republicans plan to keep control of that chamber on a message of low costs. But higher oil prices could complicate that message.
Disruptions in the global oil supply are driving up prices, and New England’s fuel market leaves the state especially exposed. The post Gas prices keep climbing, and Massachusetts may see some of the biggest hikes appeared first on Boston.
The Strategic Petroleum Reserve is designed to cushion disruptions to U.S. oil supplies during emergencies.
Oil prices blew past the $100-a-barrel mark on Monday, before falling back to around $90 after Trump suggested the war with Iran could soon end.
It’s driven by the rise in oil prices amid the conflict. Brent crude oil traded above $91 a barrel March 6, which is the highest recorded price since mid-2024, according to GasBuddy. In response to the increase, President Trump told Reuters he doesn’t “have any concern about it.”