With news of the conflict between the United States and Israel against Iran, fuel prices are also rising. In recent days, there has been talk that American drivers could soon pay more at gas stations due to the uptick in oil prices following the recent attacks. According to outlets such as CBS, experts predict that gasoline prices could rise dramatically this week.
The price of West Texas Intermediate crude, a type of oil produced mainly in the United States, rose 6.2% on March 2, to $71.19 per barrel, according to FactSet data. Brent crude, the international benchmark, climbed almost 9%, to $79.31 per barrel on Monday, its highest level in more than a year.
The projected increase would come after fuel prices had already risen slightly this year due to concerns about the escalation of tensions between the United States and Iran. As of March 2, the average price of gasoline in the United States is about $3 per gallon, about 20 cents higher than at the start of January, according to AAA data.
Two days after the initial strike in which Iran’s Supreme Leader, Ayatollah Ali Jamenei, died, gasoline prices were already showing increases in states such as Illinois, Indiana, Michigan, Ohio and Texas.
