energy markets

California Drivers Brace for Higher Gas Prices This Summer as Tax Hike, Refinery Closures, and Global Tensions Converge
Business

California Drivers Brace for Higher Gas Prices This Summer as Tax Hike, Refinery Closures, and Global Tensions Converge

California motorists could face sustained pain at the pump this summer as the state’s fuel excise tax rises, refinery shutdowns tighten supply, and geopolitical instability roils energy markets. Starting July 1, the gasoline tax will increase by 2 cents per gallon—to 63 cents—while diesel tax edges up to 48 cents. Analysts say the tax bump alone won’t trigger a dramatic price spike, but when layered with capacity cuts and global uncertainty, the outlook is more volatile.

Iran Strikes Kuwait Airport, Killing One, as U.S.-Iran Ceasefire Teeters
World

Iran Strikes Kuwait Airport, Killing One, as U.S.-Iran Ceasefire Teeters

Iran launched a deadly missile and drone attack on Kuwait International Airport early Wednesday, killing one person and wounding dozens, in what Tehran called retaliation for the latest U.S. airstrikes. The assault came hours after President Trump insisted talks were ongoing, but the fragile ceasefire appeared increasingly strained as regional tensions escalated.