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No Relief in Sight as Energy Experts Predict Record High Gas Prices
Supply disruptions from the Iran conflict have removed millions of barrels daily from global markets, with analysts warning of further increases ahead.
- Gas prices jumped 25 cents per gallon overnight in the Midwest this week as the ongoing war against Iran continues to disrupt global oil trade.
- The Strait of Hormuz has been essentially closed since the conflict involving Israel and Iran began in February, while a recent Saudi Arabia pipeline attack threatens to further constrain supply.
- Rystad Energy reports 4 million barrels of oil daily are at risk of "disappearing from the market," representing about 4% of global supply; the national average gas price is $4.46.
- President Donald Trump called high costs an "inexpensive price to pay" for the war, though diesel prices reached an all-time high of $5.85 per gallon.
- The Pentagon reports 757 casualties in the ongoing conflict, and a new Fox News poll suggests Democrats may gain an edge in upcoming elections as voters cite affordability concerns.
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44 Articles
44 Articles
Chicago Sun Times+2 Reposted by 2 other sources
Gas prices are spiking in Chicago again. Why there may be no end in sight
Ongoing geopolitical conflicts have sparked the latest surge and record-high prices for diesel.
·Chicago, United States
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Coverage Details
Total News Sources44
Leaning Left1Leaning Right0Center40Last UpdatedBias Distribution98% Center
Bias Distribution
- 98% of the sources are Center
98% Center
C 98%
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