US EditionGas prices shoot back up above $4 Thursday after Trump's primetime Iran speech
AAA said the national average reached $4.081 a gallon as diesel and jet fuel stayed elevated after Trump warned of more strikes on Iran.
- On Thursday, the national average for a gallon of regular gasoline reached $4.081, a 14-cent increase following President Donald Trump's primetime address warning of continued missile strikes against Iran.
- Iran's military effectively closed the Strait of Hormuz, through which roughly 20 percent of global oil passes, following escalating tensions and military conflicts that began with U.S. and Israeli attacks on Feb. 28.
- Crude oil has surpassed $100 per barrel in recent weeks, while wholesale markets saw midmorning increases of 17 cents per gallon on Thursday, intensifying pressure on diesel and transportation costs.
- The International Energy Agency pledged to release 400 million barrels of oil from emergency stockpiles, while the White House is waiving maritime shipping requirements under the Jones Act for 60 days.
- Gasoline prices are set to climb to between $4.25 and $4.45 a gallon by next week, and analyst Patrick De Haan warned prices could cross $5 a gallon if the Strait of Hormuz remains closed.
19 Articles
19 Articles
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Trump Speech Unleashes More Pain on US Consumers with $5 Gasoline, Record Diesel in Sight
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MAGA financial pundit Eric Bolling revealed that President Donald Trump's Wednesday night address to the nation had likely "triggered" a 60-cent spike in gas prices.During a Thursday interview on the War Room podcast, Bolling said he had been giving MAGA influencer Steve Bannon updates on the oil ma...
Trump Speech Unleashes More Pain on US Consumers With $5 Gasoline, Record Diesel in Sight - Energy News, Top Headlines, Commentaries, Features & Events
(Reuters) – U.S. President Donald Trump’s address to the nation on Wednesday, in which he vowed more aggressive strikes on Iran, has put consumers on course for record fuel prices at the pumps just ahead of the country’s peak summer travel season, market experts said. Americans expected Trump’s speech to outline a plan to end ...
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