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Florida gas prices soar by double digits amid Iran-Israel conflict, AAA says

Florida gas prices soar by double digits amid Iran-Israel conflict, AAA says

CBS News23-06-2025
Florida drivers are paying more at the pump after a volatile week in oil markets. According to AAA, the average price for a gallon of gas in Florida rose 16 cents from the previous week, settling at $3.11 on Sunday.
Prices had briefly dipped to $2.95 on Wednesday — Florida's lowest average since May 10 — but then surged to $3.15 by Thursday, the highest price recorded since early May.
Global conflict fuels oil market uncertainty
The latest price hike comes as geopolitical tensions in the Middle East continue to rattle energy markets. U.S. airstrikes on Iranian nuclear facilities and Iran's subsequent threats to retaliate, including potentially closing the vital Strait of Hormuz, have caused oil prices to swing.
The strait, responsible for about 20% of global oil trade, remains open as Iran's Supreme National Security Council has not yet finalized the Parliament's vote to block it. However, the uncertainty alone has impacted markets.
Crude oil closed Friday at $74.93 per barrel, up nearly $2 from the prior week. Overnight trading saw prices fluctuate between $74 and $77 — a significant climb compared to May's $60 average.
AAA: Expect more volatility if tensions persist
"Drivers in the U.S. could see higher prices at the pump if tensions persist or if oil flows are disrupted," said Mark Jenkins, spokesperson for AAA – The Auto Club Group. "So far, the impact has been measured, but market watchers are keeping a close eye on how things unfold in the coming days."
Where prices are highest and lowest in Florida
Some Florida metro areas are feeling the price pressure more than others.
Most expensive gas prices in Florida:
West Palm Beach–Boca Raton: $3.27
Naples: $3.18
Gainesville: $3.18
Least expensive gas prices in Florida:
Crestview–Fort Walton Beach: $2.90
Panama City: $2.93
Pensacola: $2.96
Tips to save money at the pump
AAA recommends drivers take the following steps to reduce fuel costs:
Combine errands to limit drive time
Avoid rapid acceleration and speeding
Remove unnecessary weight from vehicles
Use the AAA mobile app to compare prices locally
Pay with cash to avoid card surcharges
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A Big, Beautiful Fiction - Does The EU/US Trade Deal Make Sense?
A Big, Beautiful Fiction - Does The EU/US Trade Deal Make Sense?

Forbes

time2 minutes ago

  • Forbes

A Big, Beautiful Fiction - Does The EU/US Trade Deal Make Sense?

James Thurber's famous book 'The Secret Life of Walter Mitty' is yet another book I would recommend to readers, to continue a recurring theme of recent weeks. It is especially apt in the context of the US-EU trade deal. Walter Mitty appeared at the end of the 1930's, a decade that was shaped by Herbert Hoover's tariff policy, and that was marked by profound economic and geopolitical tensions. Mitty's fantasies were provoked by the reality of his pedestrian, harangued life – which will appeal to European leaders who care to dream of better days. Equally, the giddiness of Mitty's fantasies has its equivalent in the promises that Donald Trump has elicited from the EU – namely, to buy and invest hundreds of billions of dollars in energy. One week on, reaction to the US-EU trade deal is still mixed, and it is not quite clear who has 'won'. This may be because it is not a trade deal in the classical sense – at least in the sense of the laborious trade deals that the EU is used to striking, partly because a large facet of the 'deal' is based on a promise and also because the optics of the deal are quite depressing for Europe. At the headline level, EU exports into the US will be met with a 15% tariff to be paid by the US consumer, not unlike the Japanese 'deal'. Auto companies will not be displeased with a 15% tariff. Wines and spirits, steel and notably pharmaceuticals have yet to have tariff levels finalised and there will be some relief on the confirmation of 15% tariffs on pharmaceuticals, though the investigation into pharmaceutical exports back to the US is a tail risk. Interestingly, the EU has resisted attempts to water down its digital regulations. Politically the spin that the EU is putting on the agreement is that it was the best possible outcome in a difficult geopolitical climate (recall that the recent EU-China summit was a damp-squib). While there were some public expressions of dismay, notably from the French prime minister Francois Bayrou – these can be seen to be largely aimed at the public, rather than Brussels. Though Ursula von der Leyen is unpopular with EU governments for the singular way she runs her office – it is populated with officials who are close to national government (i.e. Alexandre Adam one of von der Leyen's key deputies is an arch Macronist) – there is no sense that the large countries were left out of the negotiation process, and any effort to isolate von der Leyen for blame, is ignoble. However, amongst the professional trade staff, there is still some despair at the humiliating optics of the deal, the fact that it is in many ways not binding, and the risk that there is no undertaking that it is final in the sense that another round of tariffs is imposed later. On the positive side for Europe, and flipping to the 'Mitty-esque' part of the deal, two of the key undertakings in the deal – that European companies invest USD 600 bn in the US, in addition to a commitment to purchase microchips, as well as a commitment from the EU to buy USD 750bn in energy from the US over the course of the Trump presidency – are not at all clear in their implementation, and very much open to a fudge, with the right accounting treatment. In particular the energy purchase commitment is unrealistic because it exceeds what the EU spends on energy in a given year and US energy firms do not have the capacity to service a commitment of USD 250bn in demand from Europe, whilst also serving other markets. In my view there are several aftershocks to watch for. The first is that the deal further damages trans-Atlantic relations, and the level of trust between the EU and the US is likely the lowest it has ever been, and this has strategic implications as far afield as Russia/Ukraine and the Middle East. One other implication may be a drift, by government and consumers, away from US brands – as this may well be an effect that is seen in other regions. Two financial market implications are that the dampening of growth in Europe will maintain downward pressure on rates in Europe. More importantly, in the context of a very oversold dollar, there is now an incentive for EU policy makers to try hard to talk down the euro, and we may see a short-term rebound in the currency pair. On the whole, if this is a 'final' deal and the topic of tariffs does not re-emerge in the next three years, it is not a bad deal for the semi's, autos and aerospace sectors in Europe, though the public optics are not good for the EU. The best parts of the deal for Europe are the fantastical claims of incoming European investment and energy purchases in the US. This is a Mitty style fairy tale that the Europeans hope Mr Trump believes in. The telling factor is that this deal has now emptied all goodwill from the trans-Atlantic relationship, and effectively completes another diplomatic rupture by President Trump. From a European point of view, this is yet another 'wake up call' and the best that can be hoped for is that it accelerates projects like the savings and investment union and 'strategic autonomy'. European leaders and the European policy elite keep talking about this, but until we see hard evidence (for example, German real GDP over the last five years is close to zero), they are the fantasists. Have a great week ahead Mike

The Latest: US trade partners around the world react to Trump's new tariffs
The Latest: US trade partners around the world react to Trump's new tariffs

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The Latest: US trade partners around the world react to Trump's new tariffs

U.S. trade partners reacted Friday to President Donald Trump's executive order that would introduce new tariffs on many of them in seven days, as the global economy and alliances face a fresh test from the president's trade agenda. Trump's order issued Thursday night came after a flurry of tariff-related activity in recent days as the White House announced agreements with various nations and blocs ahead of Trump's self-imposed Aug. 1 deadline. Trump also said Thursday he would extend trade negotiations with Mexico for 90 days. But the vast majority of nations are continuing to face uncertainty ahead of the coming deadline. While a handful of trade deals have trickled in, many details remain hazy, with businesses and manufacturers around the world bracing for heightened operating costs and potential price hikes. Meanwhile, Trump's overhaul of U.S. trade policy hasn't gone unchallenged. 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The U.S. is Taiwan's most important export market and strategic ally, Lai said in an earlier statement Friday morning. Cambodia prime minister thanks Trump for dropping tariff rate Cambodia Prime Minister Hun Manet expressed his thanks to Trump for the dropping of tariffs from 36% to 19% and he called the reduction 'good news' for Cambodia. Posted on his social media platform, Hun Manet said Trump had not only helped broker a ceasefire between Cambodia and Thailand forces after nearly a weeklong clash but also helped Cambodia's economy by lowering tariffs. 'This is good news for the people and economy of Cambodia to continue developing the country,' Hun Manet said. Thailand successfully negotiates lower tariff rates Thailand's government spokesperson Jirayu Houngsub said Thailand says the U.S. agreed to reduce the tariffs rate from 36% to 19%, a rate similar to those imposed on many other Southeast Asian countries such as Vietnam and the Philippines. 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SAP to Acquire SmartRecruiters: Integrating Innovative Talent Acquisition Portfolio Will Help Customers Attract and Retain Top Talent
SAP to Acquire SmartRecruiters: Integrating Innovative Talent Acquisition Portfolio Will Help Customers Attract and Retain Top Talent

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SAP to Acquire SmartRecruiters: Integrating Innovative Talent Acquisition Portfolio Will Help Customers Attract and Retain Top Talent

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The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions, including regulatory approvals. Terms of the transaction were not disclosed. J.P. Morgan served as exclusive financial advisor to SmartRecruiters. Visit the SAP News Center. Get SAP news via LinkedIn and Bluesky. About SAPAs a global leader in enterprise applications and business AI, SAP (NYSE:SAP) stands at the nexus of business and technology. For over 50 years, organizations have trusted SAP to bring out their best by uniting business-critical operations spanning finance, procurement, HR, supply chain, and customer experience. For more information, visit About SmartRecruiters SmartRecruiters is the Recruiting AI Company that transforms hiring for the world's leading enterprises. Built for global scale, SmartRecruiters delivers an AI-powered hiring platform that automates and optimizes the entire talent acquisition process, ensuring faster and smarter hiring decisions. More than 4,000 organizations, including Amazon, Visa, and McDonald's, rely on SmartRecruiters to build winning teams. For more information, visit This document contains forward-looking statements, which are predictions, projections, or other statements about future events. These statements are based on current expectations, forecasts, and assumptions that are subject to risks and uncertainties that could cause actual results and outcomes to materially differ. Additional information regarding these risks and uncertainties may be found in our filings with the Securities and Exchange Commission, including but not limited to the risk factors section of SAP's 2024 Annual Report on Form 20-F. © 2025 SAP SE. All rights and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE or an SAP affiliate company in Germany and other countries. Please see for additional trademark information and notices. Note to editors:To preview and download broadcast-standard stock footage and press photos digitally, please visit On this platform, you can find high resolution material for your media channels. For customers interested in learning more about SAP products: Global Customer Center: +49 180 534-34-24United States Only: 1 (800) 872-1SAP (1-800-872-1727) For more information, press only:Joellen Perry, +1 (626)-265-0370, ETDaniel Reinhardt, +49 151 168 10 157, CESTVictoria Dixon, +1 (703) 288 6020, PT SAP Press Room; press@ Please consider our privacy policy. If you received this press release in your e-mail and you wish to unsubscribe to our mailing list please contact press@ and write Unsubscribe in the subject line. Logo: View original content: SOURCE SAP SE Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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