Is an Oil Shortage Looming? The Petroleum Market Signals Affirmative

Deep News00:50

According to the latest data from the American Automobile Association (AAA), the average price for regular gasoline in the United States reached $4.14 per gallon today, marking a 39% increase since the onset of the war with Iran.

"Imagine being stranded on a deserted island with only one bottle of water left," David Goldman told Pamela Brown on CNN today. "You would pay any price for it. That is the situation in the market right now."

Goldman reported that since the war began in February, the price of jet fuel has also surged by 94%, indicating that consumers should prepare for higher airfare costs.

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