Gas Prices Soar Amid Global Supply Crunch | Tulsa News

Gas prices are hitting record highs this Labor Day weekend, with regular fuel at $4.14 a gallon — up from last year and surpassing the 2012 peak. The spike is largely driven by Middle East tensions, particularly Iran’s closure of the Strait of Hormuz after February attacks, which has disrupted global oil flow. Diesel prices have soared even higher, reaching $5.85 a gallon, pushing up grocery and shipping costs across the board. Additional pressure comes from U.S. refineries operating near full capacity, extreme heat in Texas, drone strikes on Russian refineries, and reduced output from Chinese producers. While the government says it’s working to boost supply and forecasts hint at easing prices soon, drivers are left managing rising costs — and gas price apps may offer small relief when you’re on the road. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/1594bad9d6f356c3