00:00It's Benzinga bringing Wall Street to Main Street.
00:02Average U.S. retail gasoline prices crossed $3 per gallon on Monday for the first time
00:07since November as conflict in the Middle East worsened and oil prices surged, according to
00:12Reuters. Tehran retaliated against U.S. and Israeli strikes by hitting production facilities
00:18in neighboring countries and ships in the Strait of Hormuz, disrupting global supply.
00:23Brent crude rose more than 5 percent to nearly $77 per barrel. Analysts said every $10 in
00:29crude could raise pump prices by 25 cents per gallon. Opus data showed prices above $3
00:36and Gulf Oil expects prices to reach as high as $3.25 this week. GasBuddy said prices had
00:43already risen for four straight weeks and warned of further upward pressure.
00:47For all things money, visit Benzinga.com.
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