Oil Above $100 Pushes U.S. Fuel Prices to New Records

Oil markets appear to have reached the inflection point that many analysts had predicted weeks ago as the Middle East conflict re-escalated with no diplomatic push in sight and global inventories continue to slump.

Oil prices are back above $100 per barrel, lifting diesel and gasoline prices, including in the United States. The Trump Administration is looking to downplay the price spikes it sees as only temporary. Prices would “drop like a rock” when the Iran war ends, U. S.