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straight of hormuz
Average price for a gallon of gas rises 11 cents overnight
SUMMARY
Gasoline prices in the U.S. surged 11 cents overnight to an average of $3.11 per gallon, according to AAA. This increase follows the U.S. strikes on Iran and comes at a time when refiners are switching to summer fuel blends.
Crude oil futures have also seen significant rises due to escalating tensions. On Tuesday, U.S. crude increased by 8.6% to $77.36 per barrel, while Brent crude rose 6.7% to $81.29 per barrel.
Concerns about the war affecting global oil supply are driving these price hikes.
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