US EditionUS Gasoline Prices to Rise After Attack on Iran, Analysts Warn
U.S. gasoline prices are set to exceed $3 per gallon due to Iran-related oil flow disruptions and seasonal demand, with stocks near pandemic highs, analysts said.
- Following a sharp crude jump, analysts said U.S. gasoline prices could exceed $3 soon due to Iran strikes disrupting oil supply.
- Ahead of summer travel, refiners in recent weeks began making costlier summer-grade fuel, and U.S. gasoline stocks stood at 254.8 million barrels as of February 20.
- A $5-per-barrel crude move typically adds about 12 cents per gallon, and some suppliers have already raised wholesale prices by 25 cents a gallon, analysts said.
- AAA warned the U.S. could release oil from the Strategic Petroleum Reserve as gas prices may exceed $3 after Iran strikes, and analysts say the administration appears willing to accept political risk.
- With stocks equal to 254.8 million barrels as of February 20, U.S. policymakers face supply risks despite efforts to limit Iran's control over flows, analysts say.
42 Articles
42 Articles
Oil, gasoline prices jump amid Iran strikes, with future uncertain
The U.S.-Israel strikes on Iran have surged oil prices, and costs for consumers at the pump are expected to rise. The price of global benchmark Brent Crude oil was at about $77 per barrel as of Monday afternoon, up from about $71 a week ago and about $66 per barrel a month ago. U.S. gasoline…
Gasoline prices in Berlin have been rising continuously for weeks. After the US military blow against Iran, the prices are making another leap.
U.S. and Israeli intervention has a direct impact on oil prices. For the first time since the war in Ukraine, they have exceeded $80 per barrel. Motorists fear an increase in pump prices, however relativized by experts. - Hits in Iran: Should we fear an increase in gasoline and gas prices? (International).
Due to the conflict in the Middle East, the price of Brent crude oil rose by 9 percent on Monday. Economists interviewed by LRT.lt are convinced that this will inevitably affect fuel prices in Lithuania. We can see the first changes on gas station signs tomorrow. Although fuel prices will not increase drastically, it is not ruled out that diesel car owners will receive worse news.
Gas prices drop 8 cents in Akron, up slightly in Cleveland: GasBuddy addresses potential impacts after attacks in Iran
“Gasoline prices are likely to face heightened upward pressure as seasonal trends continue and markets navigate this evolving geopolitical landscape. ..."
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