The U.S. is the world’s leading oil producer. So why are gas prices soaring?
Motorists are paying sharply higher fuel prices since the outbreak of the Iran wasdespite the U.S. being the world’s largest oil producer. Why? After all, as of 2023 (the latest data available), the U.S. churned out roughly 13 million barrels of crude a day, according to the Energy Information Administration (EIA). That compares with roughly 10 …