Gas Prices Surge to $3.96, Nearing $4 Nationwide
Denver News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Gas prices soar, nearing four dollars nationwide, as the war with Iran drives up costs. Every state now averages at least three dollars and twenty-five cents per gallon, with California leading at nearly five dollars and eighty cents. Diesel prices also climbed, reaching five dollars and twenty-nine cents per gallon. The spike is linked to the conflict disrupting the Strait of Hormuz, a crucial route for global oil shipments. Crude oil prices have surpassed one hundred dollars per barrel, increasing costs for gasoline, diesel, and jet fuel. This could lead to higher prices for everyday goods as trucking and flying expenses rise. Motorists are already feeling the impact at the pump due to stronger seasonal demand from spring travel. The U.S. plans to release over one hundred seventy million barrels from strategic reserves in the coming months to alleviate the pressure, as the war approaches its one-month mark.
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