Diesel now costs more than $6 a gallon
Another inflation indicator is flashing red.
Another inflation indicator is flashing red.
Oil prices keep climbing as the war with Iran keeps clogging the global flow of crude, and they got back to where they were before the summer on Thursday.
President Donald Trump said Wednesday that oil prices that have surged because of the Iran war likely won’t come down until after U.S. midterm elections.
Oil prices shot past $100 a barrel Wednesday as fighting between the U.S. and Iran escalated, threatening to increase costs for consumers and businesses worldwide.
The U.S. military said it destroyed five Iranian oil tankers on Tuesday in response to the latest attacks on its warships.
The war in Iran has cost each American household $770 in increased fuel costs.
The U.S. military denied that Iran struck an uncrewed American military vessel in the Strait of Hormuz, calling the claim a “total lie.”
Vice President JD Vance on Thursday rejected the use of the word “war” to describe the U.S. fighting with Iran.
Diesel hit a record price in the U.S. on Friday, soaring to an average of $5.85 a gallon for the first time as the six-month war with Iran disrupts the world’s flow of fuel.
If you’re thinking of buying or selling a home, it’s going to cost you more to borrow money.