Middle East Fighting Sends Crude Oil Prices Soaring

Continued fighting in the Middle East has led to a surge in crude oil and gasoline prices. The CountryMark Refinery in Mt. Vernon, Indiana is paying $89.05 per barrel for locally produced crude oil, based on the settled daily price for West Texas Intermediate crude minus $7 per barrel.

Higher crude prices are also being reflected at the gas pump. In Southern Illinois, most Fairfield stations were charging $4.44 per gallon for regular unleaded, while Citgo was at $4.49. Gas prices in Albion were also reported at $4.49 per gallon.

Prices vary significantly across Illinois. According to GasBuddy, the state's lowest price was $3.67 per gallon in Calumet City, while gas in nearby Dieterich was selling for about $3.90 per gallon on Thursday morning.