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Gas Prices Surge Amid Iran Tensions | Oakland News
Gas prices are back over four dollars a gallon as U.S.-Iran tensions flare, reigniting fears of global oil supply disruptions and pushing fuel costs up 13 cents in just one week. The reversal of America’s naval blockade of the Strait of Hormuz—after Iran targeted oil tankers—has sent shockwaves through markets, recalling past spikes that once pushed prices to nearly $4.60. A brief reprieve in May, fueled by hopes of a diplomatic breakthrough, brought prices and inflation down—but inflation still hovers above the Fed’s 2% target, leaving drivers paying the price of geopolitical instability…
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