Rising geopolitical risks in the Middle East drive US gasoline prices to a one-month high, stoking inflation concerns.
US average gasoline prices rose above $4 per gallon for the first time in a month, driven by escalating Middle East tensions that lifted global fuel costs. The increase renews worries about persistent inflation pressures in the economy.
The national average for regular gasoline had hovered below $4 since early June, following a broader decline in energy prices. Analysts had expected stability, but recent geopolitical developments disrupted supply expectations.
Markets are monitoring the impact on consumer spending and Federal Reserve policy, as higher fuel costs could weigh on inflation data in coming months.