Oil Prices Surge, Gas Costs May Rise
Irvine News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Oil prices soar post U.S.-Israel strikes on Iran, potentially increasing gas costs for U.S. drivers. WTI crude surges 6.2% to $71.19 per barrel, Brent benchmark jumps nearly 9% to $79.31, highest in over a year. Gradual pump price hikes expected, with some stations possibly adding 30 cents per gallon by the weekend. Despite rises, gas remains 7% cheaper than last year. New Venezuelan oil imports could help ease costs, but higher oil may fuel inflation and delay Federal Reserve interest rate cuts.
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