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\u2018Barron\u2019s Roundtable\u2019 panelists discuss how the Iran conflict and soaring oil prices are impacting global supply chains and fueling inflation fears.<\/p>\n
Americans are paying more for gas nationwide, with some states hit harder than others as the Iran conflict drives oil prices higher.<\/p>\n
The national average is now $3.95 per gallon, up $1.02 from a month ago, according to AAA.<\/p>\n
Prices are climbing across nearly every region, with some states already well above the national average. On the West Coast, drivers are seeing the highest costs, with prices reaching $5.79 per gallon in California and $5.27 in Washington.<\/p>\n
OIL, GAS PRICES JUMP AS TRUMP FLIRTS WITH STRIKING IRANIAN OIL INFRASTRUCTURE<\/p>\n
Along the East Coast, gas prices are approaching or exceeding $3.70 in several areas, including $3.86 in New York and $3.80 in Maine.<\/p>\n
In the Midwest, Illinois stands out at $4.16 per gallon, while much of the region remains closer to the mid-$3 range. Southern states are generally lower, though still rising, with Texas at $3.62 and Florida at $3.93.<\/p>\n
THE UNLIKELY TOOL TRUMP IS EYEING TO TACKLE RISING OIL PRICES AMID THE IRAN CONFLICT<\/p>\n
Gas prices are climbing across nearly every region in the United States due to the ongoing conflict in the Middle East. (Justin Sullivan\/Getty Images)<\/p>\n
Diesel is outpacing gasoline due to its link to freight and industry, meaning increases can ripple through supply chains and raise costs. It averaged $5.28 a gallon, up $1.69 over the same period, according to AAA.<\/p>\n
The surge comes as traders closely watch the Strait of Hormuz, a critical global energy chokepoint where tanker traffic has slowed to a crawl as tensions intensify.<\/p>\n
TRUMP PROMISED LOWER COSTS; THE IRAN CONFLICT NOW THREATENS THAT PLEDGE<\/p>\n
A satellite image shows the Strait of Hormuz, a key maritime passage connecting the Persian Gulf to the Gulf of Oman, vital for global energy supply. (Amanda Macias\/Fox News Digital)<\/p>\n
Just 21 miles wide at its narrowest, the waterway between Iran, the United Arab Emirates and Oman carries roughly 20 million barrels of oil per day and about one-fifth of global liquefied natural gas, along with significant volumes of jet fuel.<\/p>\n
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For U.S. drivers, prices could keep climbing just as summer travel and road trip season begins.<\/p>\n
#States #gas #prices #rising #Iran #conflict #boosts #oil<\/p>\n","protected":false},"excerpt":{"rendered":"
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