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Oil plunges, markets surge on report U.S. and Iran near deal to end war as gas prices jump past $4.50 NBC NewsLive updates: US and Iran moving toward memo aimed at ending war, source says CNNOil prices sink and stocks leap worldwide on hopes for a reopening of the Strait of Hormuz Los Angeles TimesHas the US accepted Iran's demand to settle Hormuz first, nuclear later?
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Lower-income consumers are compensating for higher gas prices by buying less.
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Oil prices drop and stock markets rise after reports of deal to end Iran war BBCLive updates: US and Iran moving toward memo aimed at ending war, source says CNNIran Evaluating US Proposal to End War as China Calls for Peace Bloomberg.comIran War Live Updates: Tehran Says It Is Reviewing U.S. Proposal as Trump Makes New Threats The New York Times
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People with lower incomes are driving less and devoting more of their budgets to transport as gas prices soar.
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Trump orders military to pause Strait of Hormuz mission to allow time for peace talks The Washington PostLive updates: Oil prices drop after Trump hails ‘great progress' in Iran talks CNNLive Updates: Iran quiet as Trump says Strait of Hormuz effort paused amid "great progress" toward peace deal CBS NewsMaersk says ship passed through Strait of Hormuz under U.S. military protection CNBC
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Why Gasoline Prices Vary So Much by State, County and City The New York TimesUS gasoline prices top $4.50 a gallon as summer driving season nears ReutersUS Gasoline Hits $4.50, Nears All-Time High as Iran Fuel Crunch Grows Bloomberg.comGas prices surge to highest levels since start of Iran war, squeezing Central Valley businesses ABC
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Fuel is airlines' second-largest expense, and getting even costlier due to the U.S. war with Iran. Airlines are looking for ways to cope, starting by hiking checked baggage fees for most fliers.
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