Average U.S. retail gasoline prices crossed $3 a gallon for the first time since November on Monday as the conflict in the Middle East ​worsened, setting up a key test of public approval of President Donald ‌Trump’s decision to attack Iran, analysts said.

Tehran’s retaliation in response to U.S. and Israeli strikes has disrupted global oil supply, as it hit production facilities in neighboring countries and ships in the Strait of Hormuz, ​a key global trade route. Oil prices have surged, with Brent crude rising ​more than 5% to nearly $77 per barrel, and fuel prices moving ⁠up in tandem with the feedstock costs.

  • bearboiblake@pawb.social
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    19 hours ago

    the US mostly self sufficient with oil

    Yes, but they aren’t completely isolated from changes in wholesale oil prices, if the price of oil goes up, the shale oil producers in the US are going to increase their prices too because they can, no?

    I agree with everything else you wrote!