Iran, gas prices
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The projected increase would come after fuel costs had already edged higher this year on concerns about flaring tensions between the U.S. and Iran. On Monday, gas prices averaged about $3 per gallon across the U.S., about 20 cents higher than at the start of January, according to data from AAA.
The attacks on Iran are already sending gasoline prices higher, and even steeper increases are probably coming soon.
Many gas station brands get their fuel reviewed and tested by TOP TIER, a company endorsed by AAA, that rates fuel quality for gasoline and diesel engines. The brands that meet the company's standards will be recognized as a TOP TIER-approved gasoline brand.
Gas prices in Georgia rose nearly 20 cents overnight, and it is expected that costs will continue to go up.
Qatar shut down liquefied natural gas production at the world’s largest export facility after it was targeted in an Iranian drone attack, sending European gas prices surging more than 50% and rattling global energy markets.
Prices rose more than 20% Tuesday after a production halt at the world’s largest liquefied-natural-gas export facility stoked concerns over global supply.
Expansions in U.S. gas turbine manufacturing will take time to impact prices and power plant developers are forming partnerships and adapting project finance to tackle long lead times.
President Donald Trump claimed gas prices are below $2.30 in most states during State of the Union speech. Gas prices are significantly higher in Tennessee.