gas, Iran and prices
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It's easy to blame gas stations for taking advantage of rising fuel costs, but they're not actually benefiting much, if at all, from the rise in gas prices.
Are gas prices declining yet? NBC News is tracking national and state prices at the pump.
Despite the cease-fire in the Middle East, prices at the pump are still rising.
Inflation probably rose to 3.4 percent in March compared with a year ago, economists estimate, which would be a sharp increase from February’s 2.4 percent increase.
From New York to Los Angeles, drivers say they’re driving less, skipping trips and adjusting budgets as gas prices rise.
Gas prices have been at an all-time high due to global supply disruptions stemming from the conflict between the U.S. and Iran. Even though the U.S. is a leader in oil production, the oil itself is priced globally by traders who bid for oil.
Tim Burchett dismissed arguments that high gas prices amid the Iran war are simply the result of free‑market forces.
If the United States buys so little oil from the Persian Gulf, why would a war in the region cause gas prices here to spike?