Oil and gas prices stayed elevated on Monday after weekend attacks on Middle East oil facilities, and amid signals from the White House that the Iran conflict might extend for several more weeks.
Gas prices across the United States rose by 2 cents to just under $3.72 per gallon on average, according to the American Automobile Association. That marks the highest price for regular gas since October 7, 2023.
On Monday, oil prices climbed above $103 a barrel as Brent futures surged by more than 40% over the past two weeks.
Since the war with Iran began, gas prices have risen by 74 cents per gallon.
The 26.9% increase in US gas prices over the past month is the largest monthly jump since Hurricane Katrina.
Iran’s foreign minister said Monday that his country isn’t asking for a ceasefire in the conflict and has not sent messages to that effect. He also added that the US and Israel “have already learned a good lesson and understood what kind of nation they are dealing with.”
By CEO NA Editorial Staff
