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The Economic Times

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US gas prices jump above $3 as Iran conflict pushes oil to one-year high

Gas prices in the United States have moved above $3 per gallon as oil markets react to tensions between the US and Iran. Rising crude oil prices and higher summer fuel production costs are driving the increase. Analysts warn that fuel prices may continue to climb slowly, adding pressure on inflation and creating political concerns ahead of upcoming elections.

3 Mar 2026 8:38 pm