Gas prices continue to rise: national average climbs to $4.46 per gallon
· Telemundo McAllen (KTLM)
The national average price of gasoline rose to $4.46 per gallon on Monday, as oil futures rebounded after three days of declines, increasing direct costs for consumers due to the war with Iran. U.S. crude jumped more than 4% to surpass $105 per barrel in midday trading, while Brent, the international benchmark, rose 5% to exceed $114 per barrel. Wholesale gasoline prices also surged by 4%. Since the war with Iran began in late February, the average price of unleaded gasoline has increased by 49%. The latest oil price spike occurred despite President Donald Trump's announcement on Sunday of a plan called 'Project Freedom,' under which the U.S. would 'guide' commercial vessels through the Strait of Hormuz. This maritime passage typically sees more than 20% of the world's oil supply transit daily, but the war has halted that traffic.
AI summary · Source: Telemundo McAllen (KTLM) →
