Iran War Sends Gas Over $4.00 A Gallon
Gas surged to $4 a gallon on Tuesday amid the United States’ continued conflict with Iran. The national gas average spiked by over $1 in one month, according to AAA . Tuesday’s milestone price arrived after consistent…
Gas surged to $4 a gallon on Tuesday amid the United States’ continued conflict with Iran.
The national gas average spiked by over $1 in one month, according to AAA. Tuesday’s milestone price arrived after consistent volatility in global energy markets.
President Donald Trump launched Operation Epic Fury on February 28, killing Supreme Leader Ayatollah Ali Khamenei and numerous other Iranian officials. The U.S. has since conducted an extensive air campaign, striking multiple military facilities and bombarding energy hub Kharg Island.
The Iranian Revolutionary Guard Corps has retaliated by closing the Strait of Hormuz, effectively shutting down the global oil trade. Brent crude, an oil blend that serves as the global benchmark price, has risen by over $30 since the conflict began. For every $10 increase in Brent crude, U.S. gas prices increase by roughly 24 cents per gallon. Brent is trading at $106 a barrel