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Where in the US have gas prices jumped the most since the US attack on Iran?

Drivers in some states are seeing pump prices rise much faster than others.

With the US-Iran war escalating, oil markets have become the global gauge of the conflict — and American drivers are already feeling the pain at the pump.

On Sunday, crude prices surged past $110 a barrel for the first time since the early days of the Russia-Ukraine war in 2022 — as tankers began avoiding the Strait of Hormuz, a narrow choke point along Iran’s coast through which roughly one-fifth of global oil supply flows every day. 

Because gasoline is refined from crude — with 60% of the pump price tied to oil costs — the shock is already showing up at gas stations: the national average price of regular gasoline climbed to $3.48 per gallon on Monday, up nearly $0.50, or 17%, from February 28, when the US and Israeli strikes on Iran began, according to the American Automobile Association.

But the pain isn’t landing evenly across the country.

States that saw the sharpest percentage increases include Indiana (up 23%), Ohio (22%), Oklahoma (21%), and Texas (20.5%). While these states had relatively cheaper gasoline — below $3 a gallon, leaving more room to rise — they’re also deeply connected to the Gulf Coast refinery network, which runs on crude priced against global benchmarks. So when Middle East disruption sends those prices surging, the shock travels straight through the pipelines to local pumps.

Western states, however, saw far smaller increases. Hawaii (up 3%), Washington (6%), Oregon (7%), Alaska (9%), and Idaho (9%) saw single-digit price jumps, as the region operates largely outside the Gulf Coast fuel network, meaning the Middle East shock tends to arrive slower and softer. They also have generally higher prices to begin with.

Still, Energy Secretary Chris Wright said Friday that the surge in gas prices should last “weeks, not months,” while President Trump called rising oil prices “a very small price to pay” for “safety and peace” on Sunday.

For now, US drivers are already shelling out roughly $187 million extra per day on gasoline compared with last weekend, per Patrick De Haan, head of petroleum analysis at GasBuddy. In a Substack post on Sunday, he also said there’s roughly an 80% chance the national average reaches $4 per gallon “within the next month- or sooner.” Prediction markets broadly agree with him.

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Spectrum owner Charter Communications is on pace for its worst day ever as broadband numbers and Q1 results disappoint

Cable and broadband company Charter Communications is on pace for its worst-ever trading day on Friday, as investors dump the stock following its Q1 results and forward guidance.

Charter, which owns Spectrum, reported adjusted earnings of $9.17 per share, below Wall Street estimates of $9.96 per share from analysts polled by FactSet. On the company’s earnings call, CFO Jessica Fischer appeared to lower its guidance for full-year revenue per user.

“It’ll be close either way in terms of whether we end up with net growth,” Fischer said.

The company lost 120,000 internet subscribers in the quarter, deeper than the expected 94,800 and double its loss from the same period last year. That news comes one day after Comcast’s earnings provided a bit of optimism for broadband as a category: the company reported Q1 losses of 65,000, significantly improving from 183,000 losses in the same quarter last year. Comcast is down more than 10%, on pace for its worst day since January 2025.

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Nvidia poised to snap longest run without a record close since the AI boom began

The stock price of the company responsible for the brains of the AI boom is finally showing some brawn again.

Nvidia, the world’s most valuable company, is poised to close at a record high for the first time since October 29, 2025, on Friday (if it ends above $207.04).

The AI chip trade is on fire, with the Philadelphia Semiconductor Index slated to deliver its 18th consecutive gain as Intel’s robust results and outlook juice the entire ecosystem. Hyperscalers report earnings next week, and their capex guidance can be thought of as the earnings guidance for Nvidia and other AI suppliers for the quarters to come.

This would end Nvidia’s longest stretch without a record close since the unofficial start of the AI boom (when the chip designer delivered blowout quarterly results in May 2023).

(Sorry if I jinx this!)

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Lilly slips after prescriptions for its weight-loss pill come in below expectations in second week

Eli Lilly fell on Friday after prescription data for its new weight-loss pill, Foundayo, showed that it’s having a significantly slower rollout than its top competitor.

The pill was prescribed about 3,700 times in its second week, according to IQVIA data cited by Deutsche Bank analysts, compared to the roughly 8,000 they were expecting. Novo Nordisk’s Wegovy pill, which came out in January, hit over 18,000 prescriptions in its second week.

The FDA approved Foundayo on April 1 and shipments began on April 9. Deutsche analysts noted that Lilly’s GLP-1 injections, which currently outsell Novo’s, also had a slower start.

Lilly fell more than 4% after the numbers were released. Novo Nordisk rose more than 5%.

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