Fuel prices to surge again as oil volatility continues into May

Fuel prices to surge again as oil volatility continues into May

Line graph showing a decline in projected future oil imports with accompanying explanatory text.

Fuel prices to surge again as oil volatility continues into May

Oil traded at around $113 per barrel early Thursday morning.

Before the war, analysts had forecast reference prices of $150 to $200 if the Strait of Hormuz were to remain closed for months.

The National Fuel Retailers Association expects another price hike for diesel and gasoline next Monday, May 4.

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