US Oil Prices Top $90 a Barrel for the First Time This Year, Sparking Inflation Worries

The surge is expected to push gasoline prices up even higher and worsen inflation rates across the economy that are already rising.

A man pumps gas in Montreal on March 4, 2022. Graham Hughes/The Canadian Press

U.S. oil prices shot above $90 a barrel for the first time in 10 months, a bad sign for the Federal Reserve.

The surge in oil prices is expected to push gasoline prices up even higher and worsen already rising inflation rates across the economy.