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A gallon of regular gasoline rose to $3.41 on Saturday, up about 43 cents from a week ago, according to AAA
Diesel was selling for $4.51 a gallon Saturday, up about 75 cents from last week. (That's a 14% increase in regular gas and 20% increase in Diesel in a week)
https://apnews.com/article/oil-gasoline-iran-war-inflation-1a1b7c3e5fbd735aa87c43ac664501cb
NEW YORK (AP) — The price of oil surged higher and showed no signs of halting its rapid climb a week after the U.S. and Israel launched major attacks on Iran that escalated into a war in the Middle East.
The conflict, in which nearly every country in the Middle East has sustained damage from missiles or drone strikes, has left ships that carry roughly 20 million barrels of oil a day stranded in the Persian Gulf, unable to safely pass through the Strait of Hormuz, the narrow mouth of the Gulf that is bordered on its north side by Iran.
The disruption and damage to key oil and gas facilities in the Middle East has led to an interruption in the supply of oil and gas.
Oil prices surpassed $90 a barrel Friday, with American crude settling at $90.90, up 36% from a week ago, and Brent, the international standard, climbing 27% over the course of the week to land at $92.69.
The conflict, in which nearly every country in the Middle East has sustained damage from missiles or drone strikes, has left ships that carry roughly 20 million barrels of oil a day stranded in the Persian Gulf, unable to safely pass through the Strait of Hormuz, the narrow mouth of the Gulf that is bordered on its north side by Iran.
The disruption and damage to key oil and gas facilities in the Middle East has led to an interruption in the supply of oil and gas.
Oil prices surpassed $90 a barrel Friday, with American crude settling at $90.90, up 36% from a week ago, and Brent, the international standard, climbing 27% over the course of the week to land at $92.69.
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