{"id":492,"date":"2026-07-10T23:41:37","date_gmt":"2026-07-10T23:41:37","guid":{"rendered":"https:\/\/officemovingamerica.com\/?p=492"},"modified":"2026-07-10T23:41:37","modified_gmt":"2026-07-10T23:41:37","slug":"us-pain-at-the-pump-worsens-after-more-us-iran-fighting-lifts-oil-prices","status":"publish","type":"post","link":"https:\/\/officemovingamerica.com\/?p=492","title":{"rendered":"US Pain at the Pump Worsens After More US-Iran Fighting Lifts Oil Prices"},"content":{"rendered":"<div>\n<div>\n<p>By Nicole Jao<\/p>\n<\/div>\n<div>\n<p>NEW YORK, July 10 (Reuters) &#8211; U.S. drivers have seen gasoline prices climb again after \u2060weeks \u2060of steady declines, as renewed fighting between the U.S. \u2060and Iran lifted crude oil prices to their biggest weekly rise in eight weeks.\u00a0<\/p>\n<p>Read more <a href=\"https:\/\/officemovingamerica.com\/?p=490\">California Cannot Seek Damages From 23andMe Successor Over 2023 Data Breach<\/a><\/p>\n<\/div>\n<div>\n<div><\/div>\n<\/div>\n<div>\n<p>Disruptions in the global refining system and \u200brobust U.S. fuel exports further tightened supplies, and average pump prices rose 6 cents this week to $3.88 a gallon on Friday, AAA data showed. It was the biggest weekly increase since \u200cmid-May.<\/p>\n<\/div>\n<div>\n<p>Renewed fighting between the U.S. and Iran over \u200cthe Strait of Hormuz sent energy prices back up sharply this week. With the U.S. summer driving season in full swing, stubbornly high gasoline prices have emerged as a political \u2060flashpoint for President Donald \u2060Trump, whose Republican Party is campaigning to hold thin majorities in the U.S. Congress in November midterm \u200belections.<\/p>\n<\/div>\n<div>\n<p>Trump recently accused oil companies of price gouging.<\/p>\n<\/div>\n<div>\n<p>&#8220;Gasoline prices have rallied alongside the massive move higher in crude oil after several tankers in the Strait of Hormuz were attacked,&#8221; Alex Hodes, director of energy market strategy at brokerage StoneX, said.<\/p>\n<\/div>\n<div>\n<p>Global oil futures benchmark Brent was on track for a weekly gain of roughly 5.5% after attacks on several tankers transiting the Strait of Hormuz. This \u200bwas followed by tit-for-tat strikes between the U.S. and Iran and Washington&#8217;s decision to revoke a general license permitting the sale of Iranian oil.<\/p>\n<\/div>\n<div>\n<p>Oil flows \u2060through the \u2060Strait of Hormuz remain well below \u2060pre-conflict levels, stoking fears that even \u200bminor disruptions could ripple through global fuel markets. The key waterway\u00a0carried about 20% of daily global oil and gas supplies before the start of \u200bthe war on\u00a0February 28.<\/p>\n<\/div>\n<div><\/div>\n<div>\n<p>Trump has pressed gasoline retailers to \u2060cut prices more aggressively. The administration has urged the U.S. Justice Department to investigate possible gasoline price gouging and recently introduced a new price-cutting initiative offering discounted gasoline at some locations in Pennsylvania\u00a0and New Jersey.<\/p>\n<\/div>\n<div>\n<p>TIGHTENING SUPPLY<\/p>\n<\/div>\n<div>\n<p>Crude supply concerns are only part of the story, Hodes added, pointing to unplanned refinery outages in both Russia and the U.S. that have squeezed fuel supplies.<\/p>\n<\/div>\n<div>\n<div><\/div>\n<\/div>\n<div>\n<p>Russia&#8217;s refining sector has been disrupted as repeated attacks reduced fuel production and worsened shortages. Moscow has curbed diesel exports and boosted gasoline imports, tightening global fuel supplies and lifting \u2060prices.<\/p>\n<\/div>\n<div>\n<p>Russian output of gasoline, diesel, jet fuel and fuel oil has been decimated with many months of downtime ahead, said Tom \u2060Kloza, chief energy adviser at Gulf Oil.<\/p>\n<\/div>\n<div>\n<p>In the U.S., refinery outages have further strained supplies, including disruptions at Marathon Petroleum&#8217;s 146,000-barrel-per-day refinery in Detroit, Michigan, and Delta&#8217;s 190,000-barrel-per-day refinery in Trainer, Pennsylvania. [REF\/OUT]<\/p>\n<p>Read more <a href=\"https:\/\/officemovingamerica.com\/?p=488\">New US, Canada Bridge to Open Soon, Michigan Republican Says<\/a><\/p>\n<\/div>\n<div>\n<p>U.S. gasoline inventories fell by 1.9 million barrels last week to 212.1 million barrels, the Energy Information Administration said on Wednesday,\u00a0leaving stockpiles nearly 10 million barrels below the five-year average.<\/p>\n<\/div>\n<div>\n<p>Gasoline stocks are running below seasonal norms across all U.S. regions, but the shortfall is especially pronounced on the Gulf Coast, said Denton Cinquegrana, chief oil analyst at Dow Jones Energy.\u00a0<\/p>\n<\/div>\n<div>\n<p>Inventories in the U.S. Gulf Coast, which produces the vast majority of the nation&#8217;s supply of refined products, fell to 76.4 million barrels last week, below the five-year average of 82.3 million barrels.<\/p>\n<\/div>\n<div><\/div>\n<div>\n<p>Moreover, the loss of Middle Eastern and Russian barrels from the global market has allowed refiners in the U.S. to reap stronger margins as the swing suppliers of fuel.<\/p>\n<\/div>\n<div>\n<p>U.S. petroleum products \u2060exports hit a weekly record of 8.7 million bpd in the week to July 3, EIA data showed.<\/p>\n<\/div>\n<div>\n<p>&#8220;The U.S. Gulf of Mexico may see consistent gasoline exports of 1-million b\/d and there are bets among Houston traders as to whether 2-million b\/d will be achieved for distillate departures,&#8221; Kloza wrote to clients on Thursday.<\/p>\n<\/div>\n<div>\n<p>The U.S. summer driving season from June through early September typically boosts gasoline consumption, while production of more expensive summer-blend fuel raises refining \u200bcosts, boosting pump prices.<\/p>\n<\/div>\n<div>\n<p>&#8220;It seems prices will mostly drift up and down here in the short-term,&#8221; Cinquegrana said.<\/p>\n<\/div>\n<div><\/div>\n<div>\n<p>(Reporting by Nicole Jao in \u200bNew York; Additional reporting by Shariq Khan; Editing Liz Hampton and David Gregorio)<\/p>\n<p>Read more <a href=\"https:\/\/officemovingamerica.com\/?p=486\">Apple Sues OpenAI, Two Former Employees for Trade Secrets Theft<\/a><\/p>\n<\/div>\n<div>\n<p><b>Copyright 2026 Thomson Reuters<\/b>.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. Track elected officials, research health conditions, and find news you can use in politics, business, health, and education.<\/p>\n","protected":false},"author":1,"featured_media":491,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[66],"tags":[60],"class_list":["post-492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-united-states"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>US Pain at the Pump Worsens After More US-Iran Fighting Lifts Oil Prices - Office Moving America<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/officemovingamerica.com\/?p=492\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Pain at the Pump Worsens After More US-Iran Fighting Lifts Oil Prices - Office Moving America\" \/>\n<meta property=\"og:description\" content=\"US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. 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