CA, US & World
Oil Prices Top $100 a Barrel as Iran Conflict Pushes Gas Prices Higher
Oil prices continued their sharp climb Wednesday as escalating conflict involving Iran fueled concerns about global energy supplies, driving crude prices above the $100-a-barrel mark and raising fuel costs for consumers.
Brent crude, the international benchmark, rose more than 3% to settle at $101.21 a barrel, while U.S. benchmark West Texas Intermediate crude closed at $96.05 a barrel. Both benchmarks have climbed significantly since the start of the year, with prices surging since the conflict intensified.
The increase is also being felt at the pump. The national average price for regular unleaded gasoline has climbed to $4.22 per gallon, its highest level since early June, while diesel reached a record $5.94 per gallon. Analysts warn higher fuel costs could increase transportation expenses and place additional pressure on inflation.
The latest spike follows attacks involving U.S. and Iranian forces targeting oil tankers near the Strait of Hormuz, one of the world's most important shipping routes for crude oil. The renewed violence has heightened concerns about potential disruptions to global energy supplies and added volatility to oil markets.
California drivers are expected to continue paying well above the national average for gasoline, as the state typically experiences higher fuel prices because of taxes, environmental regulations and limited refining capacity.
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By: CNN Newsource
September 9, 2026
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