Fuel price rollback set for August 4 after weeks of hikes
The latest rollback suggests some easing after global oil and refined fuel prices surged in late July due to renewed tensions in the Middle East
The latest rollback suggests some easing after global oil and refined fuel prices surged in late July due to renewed tensions in the Middle East
The increase undoes part of last week’s price cuts, with diesel again under pressure
The warring nations have not conducted military strikes against each other for weeks, but they also have not engaged in meaningful talks to end the six-month-old conflict
(1st UPDATE) The latest increase follows last week’s hike, marking the second straight week of rising fuel prices
As the war with Iran nears its six-month mark, US Treasury Secretary Scott Bessent says the US is launching an ‘economic onslaught’ against Iran’s financial connections around the globe
It’s welcome news after motorists suffered through a rough August with pump prices swinging sharply due to the continuing conflict in the Middle East
Despite last week’s price cuts, diesel and gasoline are again under pressure from Middle East tensions, tight fuel supply and a weaker peso
The ongoing conflict is severely impacting Iran’s economy and oil exports, while also affecting Gulf Arab states and contributing to rising fuel prices in the US
The rollback gives motorists another week of relief after steep July increases, though prices remain elevated compared with levels prior to the US and Israel war on Iran
Our inflation problem has not ended, it has merely paused.