Surging Gasoline Prices Create New Political Woes for Trump
Gas prices at a gas station in Media, Pennsylvania.
Photographer: Matthew Hatcher/BloombergGasoline and diesel futures surged on the first day of trading after the US and Israel launched attacks on Iran, threating to blot out one of the biggest bright spots of President Donald Trump’s energy agenda.
Gasoline futures jumped as much as 9% Monday as the flow of tankers carrying crude and fuel through the Strait of Hormuz all but ceased. Average retail prices in the US hit $3 a gallon on Sunday, the highest in three months, according to the American Automobile Association.