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Gas Prices Surge Amid Global Tensions | Salt Lake City News
Gas prices hit a record high in August, averaging over four dollars a gallon — the first time ever — driven by Middle East conflict that disrupted oil flows since late February. The national average sits at $4.09, up sharply from last year and pushing some states past $4.30. Beyond fuel, the global turmoil is inflating everyday costs, worsening inflation that’s still above the Fed’s 2% target. While energy and clothing saw minor dips, housing prices keep climbing, complicating the Fed’s path to price stability as they remain focused on cooling inflation through upcoming decisions. Listen in…
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