California gas is pricey already. The Iran war could cost you even more [Los Angeles Times (CA)]
Phillips 66 (PSX)
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Source: Los Angeles Times
The outbreak of war in the Middle East, which virtually closed a key Persian Gulf shipping lane, spiked the price of a barrel of Brent crude oil by as much as $10, with prices rising as high as $82.37 on Monday before settling down. The price of the international standard dictates what motorists pay for gas globally, including in California, with every dollar increase translating to 2.5 cents at the pump, said Severin Borenstein, faculty director of the Energy Institute at UC Berkeley's Haas School of Business That would mean drivers could pay at least 20 cents more per gallon, though how much damage the conflict will do to wallets remains to be seen. “The real issue though is the oil markets are just guessing right now at what is going to happen. It's a time of extreme volatility,” Borenstein said. “We don't know ether the war will widen or end quickly, and all of those things will drive the price of crude.” President Trump has lauded the reduction of nationwide gas prices a
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- 2/19/26 - Form 4
- 2/17/26 - Form 144
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