Middle East turmoil sends Cleveland gas prices soaring

By the numbers: Average gas prices in the Cleveland metro area hit $3.43 on Monday, per AAA.

• That's up from $2.84 a month ago.

Zoom out: Cleveland's rate was just below the national average of $3.48.

The big picture: Gas prices spiked dramatically last week following upheaval in the Middle East.

• March 3 was the biggest single-day spike since 2022, according to GasBuddy analyst Patrick De Haan.

Between the lines: Tom Kloza, a longtime oil analyst now working for Gulf Oil, told Axios he expected the national average price to reach as high as $3.50 in the coming weeks.

• That stems from a sudden increase in petroleum prices as traders fear disruption in crude supplies from the Middle East.

The latest: Oil prices climbed above $100 per barrel Sunday for the first time since 2022.

Go deeper: Gas prices see biggest single-day spike in 3 years as Iran war jolts market