Gold fell from a three-week high hit earlier on Tuesday, as slim hopes ​of a U.S.-Iran ​peace deal drove the dollar ​and oil prices higher.

CPI gas price index has surged 28% from a year ago, while overall energy costs are up nearly 18%, new inflation data shows.

The price of Brent crude oil has risen by more than 90% to roughly $120 per barrel this year as the escalating Middle East conflict disrupted shipments through the Strait of Hormu

High gasoline prices don't just hit you at the pump: the extra fuel costs are pushing up prices for everything from airfare to eggs.

California may soon have to battle other states for oil resources as its imported supply runs dry, a leading lobbying group has warned. Jodie Muller, CEO of Western States Petroleum Association, said the limited amount coming into the Golden State means it will be pitted up against the rest of the US and foreign markets.

Brent crude oil price could rally 32% on a pattern breakout, with backwardation and China demand fueling upside even as Iran cools off.

The U.S. has exported over 280 million oil barrels over nine weeks, drawing down strategic reserves. Yet oil and gas prices remained elevated.

Major stock indexes retreated Tuesday after "core" consumer inflation for April came in hotter than expected and oil prices continued to climb.