Latest / Lake Charles Louisiana News Today | 2 Min News | The Daily News Now!
Gas Prices Soar Amid Global Supply Crisis | Lake Charles News
Gas prices hit an all-time high this Labor Day weekend, averaging $4.14 a gallon — up a dollar from last year and surpassing the 2012 record. The spike is largely due to Iran blocking oil flow through the Strait of Hormuz since February, tightening global supply. Diesel also hit a record $5.85, driving up costs for deliveries and groceries. Despite Energy Secretary promises to lower prices, no timeline was given, and U.S. refineries are already running at full capacity, making them vulnerable to disruptions. Global issues like Ukrainian drone strikes on Russian refineries and China’s…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.