Gas Prices Slip, But Oil Disruption Threat Lingers
U.S. regular gas averaged $4.322 a gallon Monday, down from $4.507 last week but still $1.18 higher than a year ago, AAA reported. Oil prices surged as Iran halted indirect swaps with the U.S. and new blockade fears hit markets. Gas inventories have dropped for 15 straight weeks, tying a record. Brent crude closed at $94.98, up 4.2%. Diesel averaged $5.448, well above last year’s $3.524.