NEW: RI Gas Prices Spike as a Result of War

NEW: RI Gas Prices Spike as a Result of War

The price of a gallon of gas shot up in Rhode Island on the news of the war.

The United States and Israel attacked Iran on March 1, and the price of oil was immediately impacted. Functionally, prices are up 17 cents in two days in Rhode Island.

The movement of crude through the Strait of Hormuz has been dramatically impacted

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And Iranian missiles have targeted oil and gas facilities in the region, causing substantial damage.

 

AAA  Northeast reports one of the biggest price spikes in years.
 

How are crude oil prices changing?

Crude oil prices climbed sharply for a second straight day on Tuesday: Domestically produced West Texas Intermediate (WTI) settled at $74.56 a barrel, up 4.6%, and Brent crude advanced to $81.40 a barrel, up 4.7%.  

 

Between March 2 and March 4, the national average climbed 20 cents. It is above $3 for the first time since December.