Gas Prices Are Soaring After Military Strikes In Iran
UNDATED (WJON News) -- Consumers have seen gasoline prices surge at one of the fastest rates in years after oil prices spiked following the U.S. strikes on Iran and the effective closure of the Strait of Hormuz. Gas Buddy says that with additional attacks across the Middle East over the weekend pushing oil prices above $100 per barrel for the first time in years, fuel markets are preparing for a prolonged disruption to global supply flows.
Gas Buddy says gasoline prices in many states could climb another 20 to 50 cents per gallon this week. Diesel may rise even more sharply, with increases of 35 to 75 cents per gallon.
Average gasoline prices in Minnesota have risen 46.5 cents per gallon in the last week, averaging $3.27 per gallon. The national average price of gasoline has risen 51.1 cents per gallon, averaging $3.45 per gallon. The national average price of diesel has increased 85.9 cents compared to a week ago and stands at $4.59 per gallon.
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