Gasoline Prices Surge Amid Rising Tensions in the Middle East

Gasoline prices in the US spiked overnight as conflicts between the US and Iran escalate. The average gas price climbed to $3.11 per gallon. Meanwhile, crude oil futures have surged, with US crude reaching $77.36 per barrel due to concerns over the global oil supply.

In the United States, the average price for a gallon of gasoline has surged, increasing by 11 cents overnight to approximately $3.11, as reported by the motor club AAA.

These price hikes come amid rising tensions in the Middle East, where recent US strikes on Iran have contributed to volatile market conditions.

As retaliatory attacks unfolded, the benchmark US crude price soared by 8.6% to $77.36 a barrel, while Brent crude rose by 6.7% to $81.29 a barrel, raising concerns over the global flow of crude.

(With inputs from agencies.)