Saudi Pipeline Closure Threatens US Fuel Prices with More Spikes Ahead

A critical Saudi pipeline remains closed after a drone strike damaged it, and relief for American drivers may not come soon.

Saudi Aramco, the world's largest oil company, told at least two European refiners that they won't receive any crude oil from it next month due to the closure.

Petroleum consultant Andrew Lipow said Saudi Arabia has few options left and may only be able to restore operations at 50% capacity in a few days or face one to two months of closures.

The national average gas price hit $4.46, while diesel broke another record high of $6.44, according to AAA.

Lipow warned that higher delivery charges and fuel surcharges will be passed on to consumers due to the shortage, which could have a significant impact on American households.