The U.S. may be the world's biggest producer of crude oil, but that's not the case for motor oil. The cost of lubricants is soaring, and even a tentative deal to end the war won't solve the problem.
Oil prices had already fallen quite dramatically on Thursday and Friday, in anticipation of an imminent deal. President Trump has posted online that the Strait of Hormuz will reopen after the deal is signed on Friday.
The national average for a gallon of gasoline is $4.55, as America heads into one of the busiest travel weekends of the year. What can you do to cut your costs?
Since September 2025, South Georgia farmers in Screven County have received letters from Kinder Morgan requesting to survey their land for a new gas pipeline called the Bridge Project. Now, they are worried what that will mean for their soil, crops and water.
Georgia’s growing electricity demand is driving another major natural gas expansion, with Oglethorpe Power breaking ground Thursday on a $3.3 billion natural gas power plant in Monroe County.
The war in Iran has pushed global oil prices higher, which boosts oil company revenues. But major U.S. oil companies aren't signaling plans to increase production to bring down prices at the pump.
More state and federal approvals are needed for the 3-foot-wide Bridger Pipeline Expansion, which would stretch from the Canadian border with Montana down through eastern Montana and Wyoming, where it would link up with another pipeline.
Gasoline costs should start to fall soon, although a full recovery to pre-war prices is expected to take months. That's assuming that peace holds and traffic flows resume through the Strait of Hormuz.
Airlines are facing higher costs, and one airport group in Europe has warned of the risk of a "systemic jet fuel shortage" if traffic through the Strait of Hormuz doesn't normalize by the end of this month.
Yes, higher crude oil prices mean a multibillion-dollar cash infusion to the oil industry. But volatility is bad for business, and sustained high prices come with very serious drawbacks.