US Gas Prices Surge as Oil Prices Climb Above $90
Fuel prices in the U.S. are surging as crude oil prices rise above $90 per barrel for the first time in years. Brent crude has hit $90 as Kuwait begins cutting oil production amidst overflowing reserves. U.S. crude futures have increased more than $10, reaching $92.61 per barrel, the highest level in two years, fueled by ongoing conflicts in the Middle East. As a result, gas prices are now averaging $3.32 a gallon, reflecting these significant changes in the oil market. The situation is compounded as the U.S. economy reportedly lost 92,000 jobs recently, adding to concerns over economic stability.
The New York Times, The Guardian, Caliber.Az, marketscreener.com, WTVM.com, Armenia News