With recent geopolitical tensions, Americans might see a rise in gas prices. Experts are forecasting an increase in oil prices to $80 a barrel when markets open this week, following the U.S. military strike on Iran.
This would mark the first time oil has traded above $80 a barrel since January 2024. Previously, oil prices have remained between $60 and $75 a barrel.
The potential rise in oil prices could lead to a re-ignition of inflation across the country.
Market observers are closely watching the situation to see how it will impact consumers at the gas pump.
