Saudi Pipeline Closure Sparks Fuel Price Fears

Fuel prices are expected to continue rising in the US due to the closure of a critical Saudi pipeline, which was damaged by a drone strike. The pipeline, capable of moving 7 million barrels of crude oil per day, has been closed since the attack, and it may take one to two months to repair.

According to petroleum consultant Andrew Lipow, if Saudi Arabia can bypass the pipeline pump stations, they may be able to restore operations at 50% capacity in a few days. However, if repairs are needed, the process could take longer.

The national average gas price has hit $4.46, while diesel prices have reached a record high of $6.44. California is experiencing the highest diesel prices in the nation, averaging $8.39, which impacts not only Californians but also consumers across the country due to higher delivery charges and fuel surcharges.

A recent Fox News poll found that 61% of registered voters consider gas prices a major problem, a 13-point increase from two years ago. American households have paid an extra $460 on gas and $378 on diesel since the start of the Iran war.