Fuel Tax Changes Hit Six States As Energy Inflation Accelerates
AI Summary
Fuel tax changes have affected six U.S. states amid accelerating energy inflation. Oil prices dropped sharply following news of a peace agreement with Iran and canceled military strikes, leading to lower gasoline prices and market relief.
Oil markets extended their decline on Friday, with crude prices falling sharply after U.S. President Donald Trump said a peace agreement with Iran was close and canceled previously threatened military strikes. Brent crude slipped below $90 per barrel, trading around $88–$89, while WTI fell to roughly $85–$87, as traders priced in the possibility of de-escalation in the Middle East and a potential reopening of the Strait of Hormuz. The decline allowed motorists to enjoy some reprieve at the pump, with national average gas prices falling…