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Expand chart
Data: AAA; Explore the data; Graphic: Naema Ahmed/Axios

Gasoline prices have gone up across more than half the country following last weekend’s attacks on Saudi Arabia oil infrastructure.

Where it stands: Since Monday, the national gasoline price average has increased 9 cents to $2.65 a gallon, according to AAA, which predicts the average could jump as much as another dime this month. Spokeswoman Jeanette Casselano wouldn’t speculate when prices would start going back down.

One level deeper: The greatest increases are in the Midwest and Great Lakes region, which Casselano says is not atypical because this region often sees high volatility.

  • Alaska was the one state to see (a very tiny) decrease: $0.008.

The big picture: Gas prices remain pretty low, as they have the last few years, compared to a decade ago when they were hitting the $4 mark.

What’s next: Saudi Arabian officials have said they will fully restore oil supply by month's end, and that half the 5.7 million barrels per day of production knocked offline in the weekend attacks is back, Axios’ Ben Geman writes.

  • Whether this is a short- or long-term impact on gas prices will greatly depend on how soon Saudi facilities are back up and running as well as crude oil prices, which account for more than 50% of the price at the pump, Casselano writes.

Go deeper: Check out the data, with state-level gas prices, here.

Go deeper

1 hour ago - World

Biden freezes U.S. arms deals with Saudi Arabia and UAE

Trump struck several large arms deals with Mohammed bin Salman (L) and Saudi Arabia. Photo: Kevin Dietsch-Pool/Getty Images

The Biden administration has put on hold two big arms deals with Saudi Arabia and the United Arab Emirates which were approved in the final weeks of the Trump administration, a State Department official tells Axios.

Why it matters: The sales of F-35 jets and attack drones to the UAE and a large supply of munitions to Saudi Arabia will be paused pending a review. That signals a major policy shift from the Trump era, and may herald sharp tensions with both Gulf countries.

Dan Primack, author of Pro Rata
2 hours ago - Podcasts

Robert Downey Jr. launches VC funds to help save the planet

Robert Downey Jr. on Wednesday announced the launch of two venture capital funds focused on startups in the sustainability sector, the latest evolution of a project he launched two years ago called Footprint Coalition.

Between the lines: This is a bit of life imitating art, as Downey Jr. spent 11 films portraying a character who sought to save the planet (or, in some cases, the universe).

DHS warns of "heightened threat" because of domestic extremism

Supporters of former President Trump protest inside the U.S. Capitol on Jan. 6. Photo: Roberto Schmidt/AFP via Getty Images

The Department of Homeland Security on Wednesday issued an advisory warning of a "heightened threat environment" in the U.S. because of "ideologically-motivated violent extremists."

Why it matters: DHS believes the threat of violence will persist for "weeks" following President Biden's inauguration. The extremists include those who opposed the presidential transition, people spurred by "grievances fueled by false narratives" and "anger over COVID-19 restrictions ... and police use of force[.]"