A private, not-for-profit federation of North American motor clubs and service providers with over 60 million members.
Gasoline costs have fallen below the $4 threshold as the Strait of Hormuz reopens under a U.S.–Iran accord. Prices remain volatile and relief is slow to reach all regions; flows are still normalizing and broader inflation remains a concern.
The Financial Conduct Authority has had parts of its £9.1bn motor‑finance compensation scheme suspended after legal challenges from Volkswagen Financial Services, Mercedes‑Benz Financial Services, Crédit Agricole Auto Finance and consumer group Consumer Voice. The Upper Tribunal has set hearings for December or February; lenders will not need to calculate or pay redress while legal proceedings continue, delaying mass payouts until at least 2027 if the scheme survives.
Bank of America data show US host cities are seeing on-the-ground economic impact from the World Cup, with restaurants and bars leading spending gains and hotel revenues rising in several markets, though results vary by city and broader inflation weighs on sentiment.
Oil prices have risen this week after U.S. officials narrowed a waiver to the Jones Act for energy shipments and data showed U.S. crude stocks have fallen to multi-decade lows. Traders are parsing mixed statements from Washington and Tehran about talks to reopen the Strait of Hormuz while reparations demands have emerged, keeping markets volatile on 11 Aug 2026.
Gas prices remain elevated amid renewed fighting in the Iran conflict. National averages hover near $4 per gallon, with regional spikes on the West Coast. The White House says energy supply will be stabilized, while voters link costs to inflation and political stakes ahead of elections.
Renewed US–Iran strikes and a US naval blockade have pushed oil above $90 a barrel and cut tanker traffic through the Strait of Hormuz. Shipping, insurance and refining costs have surged faster than crude, lifting diesel and jet-fuel premiums and pushing US pump prices toward $4 a gallon; analysts warn sustained disruption will force further price rises.
Brent crude has fallen about 8–9% to below $88–$92 a barrel after prices briefly topped $100 last week. The drop follows pauses in US–Iran strikes and reports that both sides have halted attacks to allow diplomacy. Markets remain volatile because shipping through the Strait of Hormuz and the Red Sea is still disrupted and analysts warn supply risks and inflationary pressure persist.
Oil prices rise as talks over reopening the Strait of Hormuz remain unsettled. Brent nears $90, and U.S. inventories stay tight amid ongoing tensions and political maneuvering.
Oil prices have risen amid renewed tensions as talks over reopening the Strait of Hormuz face a stalemate. Iran demands compensation and sanctions relief, while US pressures persist. Brent near $90 and US crude around $82, with market participants watching for any breakthrough.
President Donald Trump has said he will "pretty soon" declare the Strait of Hormuz to be US territory after defeating Iran, and has touted a US naval blockade. Iran has rejected the claim, saying the strait "will only be closed and opened under Iran's command" and has refused to resume talks while the waterway remains blocked. Mediators continue quiet contact.
The U.S. beef supply has tightened amid an historic cattle shortage driven by drought and economic pressures. Tyson Foods is closing two beef plants and seeking buyers for another as it reshapes its beef operations. Retail beef prices have climbed while overall meat sales dip; the industry is prioritizing capacity and resilience to rebuild herds.
The US has reached an agreement with Venezuela’s interim government to secure majority control of rights to about 65 billion barrels of Venezuelan oil. The deal creates a private joint venture with Venezuelan billionaire Alejandro Betancourt’s firm, gives the US effective majority output and promises nearly $100bn in private investment, though no contract text or financing details have been released.
Israel faces a potential reduction in the excise tax on gasoline as prices surge amid global tensions with Iran and a volatile oil market. Government officials weigh legality and fiscal feasibility ahead of the October 27 election; experts warn of budget strains even as prices at the pump were raised recently.
Brent crude has climbed toward $97 a barrel after renewed exchanges of strikes between the United States and Iran over the past week. US strikes have hit sites along Iran's southern coast while Iran has attacked US-linked vessels and bases in the region; shipping through the Strait of Hormuz remains constrained and US pump and diesel prices have risen.
The United States and Iran remain in a strained confrontation as sanctions, naval blockades, and economic pressure persist. Reports show rising fuel costs and public discomfort at home, while Iran faces internal pressures amid energy shortages and crackdowns on protests. Political leaders debate the legality and scope of the conflict, with midterm dynamics shaping how aggressively the administration pursues escalation or restraint.
Gas prices across the United States have risen, with the national average approaching and potentially surpassing $4 per gallon for Labor Day. Drivers face record-level costs driven by global tensions, crude markets, and calls for domestic energy policy responses.
Diesel prices have risen sharply amid renewed Middle East tensions and sanctions, driving inflation and shifting costs for transport, farming and retail. The surge follows a wave of global supply disruptions and has sustained pressure on households and businesses.
Gas prices have reached Labor Day highs as US-Iran hostilities persist and a Venezuela oil deal faces questions over enforceability and impact on supply. Officials see potential downward pressure as demand cools after summer, but uncertainty remains about how quickly prices will fall.
Labor Day traditions are shifting as closures and sales vary by sector. Government offices close, while stocks and banks stay shut. Retailers offer promotional deals as summer ends, and travel costs rise for many Americans, who plan last-minute getaways.
Diesel prices have surged to record levels amid the Iran war and ongoing Middle East tensions, with weekly readings showing prices at $5.90–$6+ per gallon in several states. The cost burden is rippling through transportation, groceries and consumer prices, while officials say relief remains uncertain in the near term.
President Donald Trump has said the US war with Iran will end "immediately after" the November midterm elections and predicted oil and gasoline prices will fall once voting is over. His comments have come as Brent crude has climbed above $100 a barrel, US fuel prices and diesel records have risen, and Republican leaders are campaigning at a two‑day midterm convention in Dallas.
Energy ministers and key delegates from G20 nations, including Canada and Saudi Arabia, gather in Houston for discussions on energy security as gas storage in Europe strains ahead of winter. Russia’s attendance has stirred debate amid ongoing tensions over Ukraine and Iran, with US officials highlighting the need for affordable, reliable energy.
The Saudi energy ministry has closed a pipeline as a precaution after reports that Houthi forces seized a Red Sea island and a port city, threatening shipping lanes. Oil prices have risen, with Brent near $108 a barrel and WTI around $103, while gas and diesel costs are climbing in the U.S. amid ongoing regional tensions.