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Gas prices jump in Charlotte after oil surge tied to Iran conflict

Less than 15% of oil and gas production occurs on federal lands.
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Less than 15% of oil and gas production occurs on federal lands.

Average gasoline prices in Charlotte rose 16.9 cents per gallon over the past week, reaching $3.62 per gallon on Monday, according to GasBuddy’s survey of 665 stations in the area.

Prices remain nearly 5 cents lower than a month ago but are up more than 70 cents compared with a year ago.

GasBuddy analyst Patrick DeHaan said the national average has also climbed, marking its first weekly increase since May 11 and ending a streak of eight consecutive weekly declines. Prices rose in nearly four out of five states.

DeHaan said the shift comes as oil prices have surged following the collapse of a ceasefire between the United States and Iran and renewed attacks. Oil prices jumped another 4% in Sunday evening trading, contributing to the rise at the pump.