Average U.S. gas prices hit $4 a gallon
Gas prices are holding steady here in the Midlands at $3.64 a gallon but that is not the case nationwide.
Gas prices are holding steady here in the Midlands at $3.64 a gallon but that is not the case nationwide.
The average price of gas fell Thursday, March 26 for the first time since the start of the war in Iran.
Gas prices are holding steady after more than three weeks of increases tied to the war with Iran.
Regular gas now averages $3.96 a gallon, according to AAA.
Relief is ripping through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war. Oil prices are easing, and stock prices are jumping on Wall Street following severe losses elsewhere in the world before Trump’s announcement.
The U.S. said it took out more than a dozen mine-laying Iranian vessels Tuesday, and the Islamic Republic vowed to block the region’s oil exports, saying it would not allow “even a single liter” to be shipped to its enemies.
U.S. President Donald Trump said Monday that the war against Iran could be short-lived, but he left open the possibility of an escalation in fighting if global oil supplies are disrupted by the Islamic Republic, which chose a new hard-line supreme leader.
Stock markets shuddered worldwide Monday on worries about whether the global economy can withstand spiking prices for oil, which briefly got to nearly $120 per barrel, their highest level since four summers ago.
Oil prices spiked near $120 per barrel Monday as the Iran war intensified, threatening production and shipping in the Middle East and pummeling financial markets.
There’s more hurt for a struggling oil market.