US EditionGas Prices Are Set to Rise Amid U.S.-Israeli War with Iran. Here's What You Could Pay at the Pump.
- On Monday, local gas prices rose following U.S. airstrikes in Iran, and some modest increases reflect spring travel demand.
- The U.S. and Iran are trading missiles and strikes, with Iran controlling parts of the Strait of Hormuz and fire reported at the U.S. embassy in Kuwait City.
- FactSet reported markets surged around 8% at Sunday’s open, with Brent crude nearly 9% to $79.31, and De Haan warned 'Most drivers should prepare for gradual increases this week'.
- On Monday, the national gas prices average hit about $3 per gallon, roughly 20 cents higher than early January, while Bob McNab warned this could slow Hampton Roads' economy and increase local servicemember deployments.
- Economists warn rising oil could reignite inflation even as CPI eases, with Wright stating 'Oil is just starting to come now because these refiners buy their oil a month or so ahead' as Venezuelan crude arrives from March runs.
63 Articles
63 Articles
Iran Accuses U.S. of Plotting, Warns of Retaliatory Surprises Amid Rising Oil Prices
Iran Accuses U.S. of Plotting, Warns of Retaliatory Surprises Amid Rising Oil Prices On Monday, Iran's Foreign Minister Seyed Abbas Araghchi accused the United States of orchestrating plots against Iran's critical oil and nuclear facilities, stating that Tehran is poised for retaliation with 'many surprises' anticipated. Araghchi derisively referred to the U.S. plan, dubbed Operation Epic Fury, as 'Operation Epic Mistake' over its impact on glob…
Iran mocks US strikes as "Operation Epic Mistake", says Tehran "fully prepared", has "many surprises in store"
"9 days into Operation Epic Mistake, oil prices have doubled while all commodities are skyrocketing. We know the U.S. is plotting against our oil and nuclear sites in hopes of containing huge inflationary shock," Araghchi wrote.
Iran is fully prepared and we, too, have many surprises in store, the Iranian Foreign Minister wrote in a post.
Trump Promises Gas Prices Will Drop ‘Rapidly’
President Trump said a short-term spike in oil prices is worth it if it means taking out Iran’s ability to develop a nuclear weapon — and only “FOOLS” would believe otherwise. He added that gas prices will drop “rapidly” once the war wraps up.
Coverage Details
Bias Distribution
- 75% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
