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Gas Prices Soar, Airfares May Skyrocket
Published 2 weeks, 6 days ago
Description
Gas prices soar to record highs, averaging $4.42 in New Jersey, as the Iran war escalates and summer blend gasoline hits the market. Oil prices surge, with WTI at $105 and Brent at $111, causing diesel hikes and potential airfare increases. The U.S. Navy escorts ships through the Strait of Hormuz, but oil could reach $150 if the closure persists. High prices may persist through 2027, potentially reducing demand.
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