Iran, gas and Oil
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ROCHESTER, Minn. (KTTC) – As the Strait of Hormuz remains blocked, gas prices on the homefront continue to rise. According to GasBuddy, the average price in Rochester on Tuesday stands around $3.68 per gallon, lower than the national average which exceeds $4 per gallon.
It's clear that higher gas prices make driving more expensive. What you may not realize, though, is that rising fuel costs make businesses spend more to procure goods. When that happens, they tend to pass the cost along to consumers. This means you could end up paying more for groceries, household goods, and other products.
Rising gas and food prices are forcing local food truck and landscaping owners to rethink business in Albuquerque.
The national gas price average is $4.10 per gallon of regular gasoline, which is 13 cents higher than last weeks price, according to the AAA website. It is $1.05 cents more expensive than a year ago.
Kentucky gas prices continue to rise amid ongoing conflict between the U.S. and Iran. See costs in commonwealth cities.