Gas prices may be on the rise, as oil prices increase.
Gas prices may be on the rise, as oil prices increase.
Feeling a pinch at the pump yet?
Posted on May 8, 2018
US benchmark crude closed above $70 per barrel on Monday for the first time since November 2014.
US oil prices have gained more than 16% since the start of the year, and globally prices are up around 13%.

Oil prices have been climbing partly because of expectations that President Donald Trump will abandon the 2015 Iran nuclear deal, which allowed Iran to export more crude.
Although imposing sanctions on Iran would disrupt oil markets, the immediate impact on prices may end up being quite limited when the decision is actually announced because investors are already pricing it in.

For the first time, S.U.V.s and the slightly smaller “crossovers” made up more than one in three cars sold globally last year.
Will we start to a see shift back to smaller and more fuel efficient vehicles or will drivers ride out this bump?