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Gas Prices

Gas prices reach one-month low Monday, expected to rise again soon

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Published 7:28 am

OREGON (KTVZ) --  It might be a good idea to fill your gas tank as soon as possible. Gas prices reached a one-month low Monday, settling at a national average of $4.32 per gallon.

That's based on oil prices where traders built in the possibility of a deal with Iran to reopen the Strait of Hormuz. But Monday morning, Iran pulled out of negotiations in protest over Israel's attacks in Lebanon.

That makes a reopening extremely unlikely.

Oil futures shot up following the news, and prices at the pump are likely to follow.

Article Topic Follows: Gas Prices
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Kelsey Merison

Kelsey Merison is an Anchor and Multimedia Journalist with KTVZ News. Learn more about Kelsey here.

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