States where gas prices are rising as Iran conflict boosts oil
Fox Business • • business
Key Points:
- The national average gas price in the U.S. has risen to $3.95 per gallon, marking a $1.02 increase from a month ago, driven largely by tensions related to the Iran conflict.
- West Coast states are experiencing the highest prices, with California at $5.79 and Washington at $5.27 per gallon, while East Coast prices approach or exceed $3.70 in several areas like New York and Maine.
- Diesel prices have surged even more sharply, averaging $5.28 per gallon—up $1.69—due to its critical role in freight and industry, potentially increasing costs across supply chains.
- The Strait of Hormuz, a vital global energy passageway carrying about 20 million barrels of oil daily, is a focal point of heightened tensions, contributing to the volatility in oil and gas prices.
- Rising fuel costs come as the U.S. enters the summer travel season, potentially impacting millions of drivers planning road trips.
