Iraq Turmoil Sends Gas and Oil Prices Soaring

As turmoil continues in Iraq, with Sunni militants fighting for control of the country's biggest refinery, gasoline prices in the U.S. have hit their highest for this time of the year since 2008, NBC News reported. Gasoline averaged $3.69 a gallon on Wednesday, the highest for the day in six years. Prices were at $3.68 a gallon Thursday. In addition, two senators have unveiled a bipartisan plan to raise federal gasoline and diesel taxes for the first time in more than two decades, pitching the proposal as a solution to Congress' struggle to pay for highway and transit programs.

Contact Us