Labor Day gas prices are forecast to average a record $4.03 per gallon nationwide in 2026. GasBuddy says geopolitical uncertainty continues to affect fuel markets, while Columbus and central Ohio prices remain well above year-ago levels. Labor Day gas prices are forecast to reach their highest level on record for the holiday, with GasBuddy projecting a national average of about $4.03 per gallon during the 2026 Labor Day weekend. GasBuddy said on Tuesday, S

Iran has announced a major gas discovery in the southern part of Fars Province, with Oil Minister Mohsen Paknejad estimating the field contains about 7.5 trillion cubic feet of gas. The discovery could strengthen Iran’s gas reserves as the country faces economic pressure and challenges across its energy sector. Iran gas discovery reaches 7.5 trillion cubic feet Paknejad announced the discovery on Sunday, saying the newly identified field holds an estimated 7.5 trillion cubic feet, or roughly 212 billion cubic metres, of natural gas. Of that total, approximately 5.7 trillion cubic feet is considered recoverable, according to figures provided by the oil minister. Recoverable reserves refer to the portion of gas that authorities estimate can realistically be extracted under technical and economic conditions. Paknejad said the recoverable volume could provide an amount of gas comparable to the production of one phase of the giant South Pars field for about 15 years. The comparison highlights the potential scale of the new resource, although future output will depend on development, infrastructure and production conditions. Sweet gas could lower development costs The Iranian oil minister described the resource as “sweet gas,” a term generally used for natural gas containing relatively low levels of hydrogen sulfide and other sulfur compounds. That characteristic could offer an economic advantage because sweet gas typically requires less processing than sour gas before entering commercial supply systems. Paknejad said this could help reduce both development and operating costs at the field. The discovery also includes gas condensates, according to the minister. These liquid hydrocarbons can have significant commercial value alongside natural gas production. Paknejad said the condensate resources could potentially generate tens of billions of dollars in additional value. The actual economic return, however, will depend on factors including investment, production rates, infrastructure, energy prices and Iran’s access to international markets. New reserves strengthen Iran energy sector The discovery comes at an important time for Iran’s energy industry. Tehran has been working to maintain and repair energy infrastructure while dealing with sanctions and broader economic pressure. Iran already possesses some of the world’s largest natural gas reserves, and South Pars remains central to the country’s gas production. Adding another substantial resource could improve long-term supply options, but discovering gas does not automatically translate into immediate production. A field must undergo appraisal and development before commercial extraction can begin. That process can require drilling additional wells, building processing facilities and connecting production sites to pipelines and other infrastructure. Iran gas reserves gain new strategic resource Paknejad said the discovery adds a significant resource to Iran’s national hydrocarbon reserves. If subsequent assessments confirm the announced estimates, the Fars gas field could become an important addition to the country’s long-term energy portfolio. The timing also gives the announcement wider economic significance as Tehran navigates sanctions and international tensions that can complicate financing, technology access and energy exports. For Iran, the value of the discovery will ultimately depend not only on the volume underground but also on how quickly and efficiently it can bring the recoverable gas and condensates into production. The government has not yet provided a detailed timetable for development or commercial output from the newly announced field.

US Vice President JD Vance says Vance Iran war goals now place affordable oil and gasoline for Americans at the top of Washington’s priorities, followed by preventing Iran from acquiring a nuclear weapon. His remarks also put renewed focus on the Strait of Hormuz and its impact on energy markets. Oil price goal moves to top of Vance’s priorities Speaking in a Fox News interview on August 13

Columbus gas prices dropped sharply last week, giving central Ohio drivers some relief after one of the most expensive Fourth of July holiday weekends on record. According to GasBuddy’s survey of 500 stations in and around Columbus, Ohio, the average price of gasoline fell 19.1 cents per gallon last week to $3.61 per gallon. The reported Sunday average was 51 cents lower than one month earlier, but still 73 cents higher than the same time one year ago. Columbus

Illinois drivers will not face the scheduled 1.3-cent motor fuel tax increase in 2026. The Illinois gas tax will remain at 48.3 cents per gallon through Thursday, December 31, 2026, before rising to 49.6 cents on Friday, January 1, 2027. Illinois Gas Tax Increase Delayed for Six Months The scheduled increase was suspended beginning Wednesday, July 1, 2026. The temporary pause does not reduce the existing gasoline tax. It postpones only the inflation-link

Rising concerns around LPG supply and transport Recent disruptions in global shipping routes have sparked renewed public concern about LPG availability and pricing in several markets. While speculation often increases during periods of geopolitical tension, the actual movement of liquefied petroleum gas depends on a tightly controlled logistics system involving specia

Global crude benchmarks have softened in recent sessions, driven by easing supply concerns and improved shipping conditions across key routes. Despite this decline, retail gasoline prices in the United States have not adjusted downward at the same pace, creating a widening gap between wholesale and consumer fuel costs. Market data indicates Brent crude has eased compared to earlier highs, yet pump prices remain relatively sticky. This lag has triggered renewed scrutiny of how quickl

Qatar factory blast triggers search operation An explosion at a factory in Qatar’s Ras Laffan industrial zone injured 54 people and left 18 others missing, the country’s interior ministry said Monday, June 22. Authorities described the blast as the result of a technical incident and said emergency teams were continuing search and response operations at the site. The ministry did not immediately provide further details on the condition of

The U.S.-Iran war cost Americans an estimated $132 billion before a preliminary agreement opened a 60-day negotiation period, according to Moody’s Analytics. The framework was announced on Monday, June 15, 2026. President Donald Trump and Iranian President Masoud Pezeshkian signed the interim accord in France on Wednesday, June 17, 2026. The agreement pauses hostilities but is not a final peace treaty. How the U.S.-Iran War Cost Americans $132 Billion

The Columbus gas prices summer outlook is improving as pump prices retreat from recent highs. Still, analysts say drivers may wait several months before prices return to levels seen before March. Columbus gas prices summer outlook points to gradual declines Gas prices in Columbus, Ohio, have fallen at several stations, giving motorists some relief after a sharp increase. Drivers said prices approached $5 per gallon during the surge. Zac Bruney

A Belmont Avenue Shell station in Chicago will offer $1.99 gas during a limited T-Mobile and Shell promotion on Tuesday. The discounted fuel will be available at the Shell station at 4357 W. Belmont Ave., near Kostner Avenue, from 9:30 AM to 2:00 PM. The specific calendar date for the Tuesday promotion was not provided in the available source information. Belmont Avenue Shell $1.99 Gas Promotion Details The pro

Haleon has recalled four lots of Gas-X Extra Strength Softgels after a possible coolant contamination issue during packaging. The Gas-X Extra Strength recall affects 125 mg softgels in 120-count and 72-count bottles distributed to the consumer level beginning Monday, April 13, 2026, according to a company announcement published by the U.S. Food and Drug Administration on Thursday, June 4, 2026. Gas-X Extra Strength Recall Covers Four Lots The r

Bridgeport Correctional Center carbon monoxide concerns led to an evacuation in Wise County, Texas, on Wednesday morning, June 3, 2026. Officials said no injuries were reported after high carbon monoxide levels were detected at the men’s prison. Bridgeport Correctional Center Carbon Monoxide Detection Prompts Response The Texas Department of Criminal Justice said the Bridgeport Correctional Center was evacuated after carbon monoxide was detected inside

Illinois gas tax pause talks remain active as a scheduled fuel tax increase approaches on Wednesday, July 1, 2026. Gov. JB Pritzker has said he is open to considering a pause, but state leaders have not announced a final plan. The Illinois General Assembly faces a key deadline on Sunday, May 31, 2026, when the spring legislative session is scheduled to adjourn. That gives lawmakers limited time to act before the automatic increase takes effect. Illinois gas tax pa

A Dallas apartment gas explosion killed three people and injured five others after firefighters responded to a reported gas leak in Oak Cliff. Dallas Fire-Rescue Chief Justin Ball said all known residents of the destroyed apartment building had been accounted for after crews searched the site into Friday, May 29, 2026. What happened in the Dallas apartment gas explosion? The explosion happened on Thursday, May 28, 2026, at an apartment complex

The Ofgem July price cap 2026 will raise typical UK household energy costs from July as higher wholesale gas prices continue to affect Britain’s energy market. Ofgem announced on Wednesday, May 27, 2026, that the energy price cap for Great Britain will rise by 13% for the period from Wednesday, July 1, 2026, to Wednesday, September 30, 2026. Under the existing typical household usage measure, the annual figure will rise from £1,641 to £1,862.

US consumer confidence falls in May as inflation, high gas prices and a softer job outlook pressure household budgets, according to the Conference Board’s latest survey. The drop shows why many Americans are pulling back on spending even as stocks remain near record highs. Why US Consumer Confidence Falls in May The Conference Board’s consumer confidence index slipped 0.7 points to 93.1 in May, marking the first decline after three m

Fatal Gas Explosion at Shanxi Coal Mine At least eight people have died and dozens remain trapped after a gas explosion at the Liushenyu Coal Mine in Shanxi Province, northern China. The blast occurred at 7:29 pm on Friday, May 22, while 247 miners were working underground. By early Saturday, rescue teams had brought 201 workers safely to the surface. Authorities confirmed that eight miners had died and 38 remained trapped

Giordano’s gas price pizza deal is giving loyalty app members a weekly discount tied to Chicago fuel prices. The company’s “Summer Savings — Save a Gallon” promotion launched on Friday, May 22, 2026, and gives customers savings based on the average price of one gallon of regular gas in the City of Chicago. The discount is based on AAA Gas Prices and will refresh every Monday throughout the summer. Giordano’s said the promotion began with the average gas price at $5.43, with the discount applying to qualifying pizza orders placed through the company’s loyalty program. Who Can Use Giordano’s Save a Gallon Offer? The offer is available exclusively to Giordano’s loyalty members at participating Giordano’s locations nationwide. It can be used for dine-in, carryout and delivery orders, but third-party delivery orders are excluded. Customers must place an order that includes at least one Giordano’s pizza, including Stuffed Deep Dish, Thin Crust or Tavern-Style pizza. The order must meet a $15 minimum, and only one redemption is permitted per check. New customers who sign up for Giordano’s loyalty program can access the reward immediately. How the Weekly Pizza Discount Works Beginning Monday, June 1, 2026, and every Monday after that through the summer, Giordano’s will automatically update the discount amount to reflect the latest average price of a gallon of regular gas in Chicago, according to AAA Gas Prices. That means the deal is not a fixed coupon. The savings can rise or fall depending on the weekly Chicago gas-price average. Why Giordano’s Tied Pizza Savings to Gas Prices The promotion connects a restaurant discount with a household cost many families watch closely during the summer travel season. By linking the offer to Chicago gas prices, Giordano’s is positioning “Save a Gallon” as a weekly savings tool for pizza customers rather than a one-time promotion. For customers, the deal turns a familiar fuel-price benchmark into a simple pizza discount. For Giordano’s, it gives loyalty app users a reason to check back each week while fuel costs remain part of the summer spending conversation.

Chinese President Xi Jinping and Russian President Vladimir Putin met in Beijing to reaffirm the growing strategic partnership between their nations. The summit emphasized energy cooperation, trade expansion, and technological collaboration. Xi described the bilateral relationship as a “source of stability,” underscoring the importance of maintaining a strong alliance amid shifting global dynamics. Key Agreemen