Gas prices in the U.S. continue to rise as a side effect of the war in Iran. The conflict has spilled into other countries, resulting in supply chain interruptions for crude oil and natural gas. There have also been warnings that these issues will continue until the conflict in the Middle East comes to an end.
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Until something changes, consumers in the U.S. appear to be stuck with inflated gas prices. Here is a quick breakdown of U.S. gas prices based on AAA’s research.
- The average price of Regular gas was $3.478 per gallon, compared to $2.997 one week ago and $3.089 one year ago.
- The average price of Mid-Grade gas was $3.976 per gallon, compared to $3.486 one week ago and $3.563 one year ago.
- The average price of Premium gas was $4.342 per gallon, compared to $3.861 one week ago and $3.918 one year ago.
- The average price of Diesel was $4.656 per gallon, compared to $3.770 one week ago and $3.635 one year ago.
- The average price of E85 was $2.764 per gallon, compared to $2.359 one week ago and $2.515 one year ago.
Looking at gas prices on a state-by-state basis, Kansas has the lowest average at $2.922 per gallon. On the flip side of that, California has the highest average gas price at $5.204 per gallon.
Energy Stocks Up Today
Several energy stocks have rallied alongside the increased gas prices on Monday. The biggest gainers include:
- Exxon Mobil (XOM) stock with a nearly 1% increase.
- Chevron (CVX) stock with a 0.32% gain.
- EOG Resources (EOG) stock with a 1.68% rally.
- ConocoPhillips (COP) stock with a 0.77% climb.
Which Energy Stock Is the Best Investment?
Considering the increased interest in energy stocks, investors will likely be weighing stakes in these shares. Turning to the TipRanks stock comparison tool, traders can see which of these shares analysts favor.
Of the four mentioned above, none have a higher analysts’ consensus rating than the others, with each of them getting Moderate Buy ratings. Their average stock price targets are a different story. EOG stock has the only upside potential at 0.97%, while XOM, CVX, and COP all have potential downsides.
