U.S. gasoline demand falls as Iran war drives up costs
U.S. gasoline demand fell nine percent as the Iran war pushed pump prices to record highs. Motorists are now cutting back on travel ahead of the summer season.
Motorists across the United States are significantly altering their driving habits as the ongoing conflict with Iran pushes fuel prices toward historic peaks. From Boston to Denver, consumers are cutting back on long-distance trips, switching to electric vehicles, and driving extra miles to avoid pricier pumps closer to home. Energy market experts have characterized the six-week-old war as the most severe oil-supply disruption in history, following strikes on major production facilities and the effective closure of a critical shipping passage.
In Boston, resident Pat Ouedraogo expressed the frustration felt by many while refueling his NISSAN MOTOR CO LTD SUV at a SHELL PLC station where prices reached $4.99 per gallon.
