Fuel Prices Drive Inflation Spike | Global News

Fuel prices are soaring, driving inflation up 3.4% year-over-year as gasoline alone jumped 3.9%—more than a third of total inflation—and pushing diesel above $6 a gallon. Global oil spikes, fueled by U.S.-Iran tensions, are raising costs for everything from food to shipping. With the Fed poised to raise rates again, households face mounting pressure as energy costs ripple through the economy.

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