America’s gas prices rise for the first time in 99 daysBy Matt Egan, CNN BusinessThe historic streak of falling gasoline prices is over. Another major factor that had been driving gas prices lower: Growing concerns of a global recession that could hurt demand for gas. Russia’s invasion of Ukraine, and the sanctions that followed, that helped to spark the steep rise in oil and gas prices. Gas prices will probably remain relatively close to the current levels in the near term, said Tom Kloza, global head of energy analysis for OPIS, which tracks gas prices nationally for AAA. Yet if gas prices begin to rise that could undermine the Biden administration and the Federal Reserve’s efforts to keep inflation in check.

Source: Libya Today September 21, 2022 19:27 UTC