Chevron says Venezuelan oil imports are helping curb U.S. gas prices

Chevron’s stepped-up imports of Venezuelan oil are helping ease fuel prices for U.S. consumers, according to a senior executive with the energy giant. Andrew Walz, Chevron’s president of global refining,…

Prolonged Strait of Hormuz closure would cause oil prices to surge, experts warn

Traffic through the Strait of Hormuz, the Persian Gulf waterway that serves as a key artery for global oil shipments, has been dramatically curtailed since the Iran war began. The…

Strait of Hormuz still seeing significantly lower traffic despite ceasefire

Only about a dozen ships passed through the Strait of Hormuz in the first two days of the ceasefire agreement between the United States and Iran, far below the normal…

Gas prices could top $5 if Strait of Hormuz stays shut, J.P. Morgan says

Gasoline prices in the U.S., which have risen $1.16 a gallon since the start of the Iran war in February, could top $5 a gallon as soon as later this month if the…

Higher gas prices have cost drivers an extra $8.4 billion, Democrats say

American drivers have paid an additional $8.4 billion in fuel costs since the Iran war started, according to a new estimate from the Joint Economic Committee’s Democratic minority.  The lawmakers’…

CBS News gas and oil price tracker shows how much energy costs are rising

The war with Iran is pushing up oil and gas prices, creating widespread financial strain on U.S. motorists, food delivery drivers, farmers as well as the U.S. Postal Service.  Analysts say prices are…

Americans face calls to cut their energy usage as Iran war drags on

Cutting oil consumption may help combat soaring energy prices caused by the Iran war, but convincing Americans to burn less gasoline could prove difficult, according to economists.  The International Energy Agency…

Trump waives summer gasoline regulations to ease fuel prices

The Trump administration will temporarily lift summer gasoline regulations as prices at the pump near $4 a gallon amid the Iran war.  The emergency fuel waiver allows refiners and retailers…

U.S. shoppers should brace for impact of higher oil prices, experts say

For U.S. consumers, soaring oil prices due to the Iran war don’t just mean pain at the pump — the impact is also likely to be felt by shoppers both…

Pentagon says about 140 U.S. service members wounded since Iran war began

CBS News attended the burials on Monday of a number of individuals the Iranian government said were military and intelligence officers and their relatives at a cemetery about 16 miles…

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