March 31, 2026
United States:
US Gasoline Tops $4 for First Time Since 2022 on Iran War
US gasoline topped $4 a gallon for the first time since August 2022, one of the most high-profile reminders to date that even the world’s largest economy is feeling the impact of a deepening conflict in the Middle East.
The nationwide average retail price for regular unleaded gasoline rose to $4.018 a gallon on Monday, according to the American Automobile Association.
Europe:
Euro-Zone Inflation Jumps Most Since 2022 on Energy Costs
The euro area saw its steepest jump in inflation since 2022 as the Iran war pushed energy costs sharply higher, backing expectations that the European Central Bank will have to raise interest rates.
Consumer prices rose 2.5% from a year ago in March – up from 1.9% the previous month and the highest since January 2025.
Asia:
China Factories Jolted by Oil Prices But Activity Resumes Growth
China’s factories saw a huge run-up in input costs even as their activity expanded for the first time this year, in one of the first tangible signs of spillover from the conflict in the Middle East that’s threatening profits.
Despite higher energy prices and other disruptions caused by the war, the official manufacturing purchasing managers’ index exceeded forecasts and reached 50.4 in March, rising above the threshold separating growth from contraction.
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