The impact of the war against Iran on financial markets, oil prices
CBS News Business Analyst Jill Schlesinger has some information on how the war against Iran could affect finances and gas prices, and what you can do to protect yourself.
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CBS News Business Analyst Jill Schlesinger has some information on how the war against Iran could affect finances and gas prices, and what you can do to protect yourself.
U.S. motorists could soon see higher prices at the pump as oil prices surge following the attacks in Iran.
Drivers in the Chicago area can expect to start paying more at the pump this week, as oil prices have spiked amid the U.S.-Israeli war on Iran.
Iran controls part of the Strait of Hormuz, a critical shipping lane where about 20 million barrels of oil flow every day, and it’s the world’s sixth-largest oil producer.
These charts track prices consumers pay for groceries and other goods now compared to five years ago.
If approved, the average customer would pay an extra $10 to $11 per month.
Some local gas stations as of Tuesday afternoon were posting prices of $4 per gallon for regular unleaded, and more than $5 for premium.
An outage at the BP Whiting Refinery in Northwest Indiana during drenching storms last week is believed to be connected to the spike. Sara Machi reports.
Gas stations as of Tuesday afternoon in Chicago were posting prices of $4 per gallon for regular unleaded, and more than $5 for premium. Sara Machi reports on why that's happening.
An Illinois representative has introduced legislation to tax road mileage as the state sees less revenue from the gas tax.
An Illinois representative has introduced legislation to tax each mile you drive as the state sees less revenue from the gas tax.
While the tariffs on Mexico and Canada have been paused, there was still concern late Monday about what happens next month if the tariffs go ahead in a month.
The tariffs in Canada and Mexico were paused Monday, but gas and lumber are two of the big commodities that would potentially be impacted if they go ahead. Megan Hickey reports.
President Trump's tariffs against Mexico and Canada have been paused, but there is concern about the effects in particular on the gas and lumber industries if they go ahead. Megan Hickey reports.
On Monday, President-elect Trump specifically promised a 25% tariff on all products coming from Mexico and Canada—in addition to a 10% levy on Chinese goods.
Just because those tariffs are not targeted at American consumers does not mean American consumers’ wallets won’t be affected. Sabrina Franza reports.
An over 11% increase compared to last Thanksgiving is expected at O'Hare Airport.
Good news for travelers, as gas prices are going down just ahead of Labor Day weekend. Patrick De Haan, head of petroleum analysis for GasBuddy, explains how gas prices this year compare to last year.
There are plenty of considerations for those interested in making the investment, according to industry experts.
The Environmental Protection Agency has agreed to a fuel waiver for Illinois. Michigan, Wisconsin, and Indiana.
The idea behind the waivers is to boost fuel supply and lower gas prices across the Midwest.
The cleanup continued along Interstate 55 in Will County after this week's storms. A temporary power outage at the ExxonMobil refinery in Channahon may lead to higher gas prices for a period.
The tax is up just 2 cents compared with Sunday. But it is quite a jump compared with the Illinois gas seven years ago.
Hardest hit are rural drivers who typically have to drive the farthest, and Chicago rush hour drivers burning more expensive fuel. CBS 2 Political Reporter Chris Tye reports.
Friday is expected to be the busiest day. More than 38 million people will be driving over the holiday weekend, and they'll be paying a pretty penny at the pump, Patrick DeHaan, an analyst with Gasbuddy.com, explains.
Northwestern was in control before Purdue got back in the game with a 9-0 run in the second half.
The restrooms look like pods, each with a toilet that is cleaned after each use, and the floors are power-washed.
The White House says they're working to get Americans out of the Middle East, but Americans there say the government left them stranded.
Last-place Loyola Chicago came in shooting just 31% on 3s, but kept it close by outscoring the nation's top 3-point shooting team by nine from behind the arc.
The burglaries took place between 2:30 a.m. and 4:30 a.m. in the Kenwood, South Shore, Washington Heights, Beverly, Archer Heights, and West Elsdon neighborhoods, police say.
Several Republicans on the Oversight panel joined with Democrats in supporting the motion to subpoena Attorney General Pam Bondi.
Former presidents Bill Clinton, Barack Obama and Joe Biden are among the big names who will be in Chicago Friday for Rev. Jesse Jackson's funeral.
In Defense Secretary Pete Hegseth's second news briefing since the start of the Iran war, Hegseth said the U.S. had sunk an enemy ship by a torpedo for the first time since World War II.
Homeland Security Secretary Kristi Noem faced friendly Republicans and critical Democrats on the House Judiciary Committee, where she testified about the administration's immigration agenda.
The measure, which would have blocked President Trump from continuing military force against Iran, fell short of the simple majority needed to advance.
Drivers in the Chicago area can expect to start paying more at the pump this week, as oil prices have spiked amid the U.S.-Israeli war on Iran.
Palatine, Illinois-based Weber has issued a recall of more than 3.2 million metal wire bristle grill brushes because you could ingest the bristles.
This is after Mayor Brandon Johnson vetoed an ordinance that would have banned most hemp-derived products this weekend.
This week marks Identity Theft Awareness Week, and Illinois Comptroller Susana Mendoza emphasized some safety tips Monday for avoiding and dealing with identity theft.
A controversial data center in Naperville, Illinois, could be the cause to pack a city council meeting there on Tuesday night.
When a doctor was told there was no cure for his daughter's condition, he was motivated to transform not only her health, but the lives of thousands of others.
Ann & Robert H. Lurie Children's Hospital announced this week that it is planning to open a new pediatric hospital in the west Chicago suburb of Downers Grove.
It has been nearly six years since the start of the COVID-19 pandemic, and one of the many questions doctors are still working to answer concerns the long-term effects.
Leaders from Cook County, the Illinois Department of Human Services, and the Greater Chicago Food Depository denounced changes to the Supplemental Nutrition Assistance Program on Wednesday.
The University of Chicago Medicine Comprehensive Cancer Center has received a grant from The Ralph Lauren Corporate Foundation for a new cancer center.
A new development at the southeast corner of Chicago's East Lakeview community would clear away a medical office building and replace it with a residential high-rise.
The City of Aurora, Illinois, is seeking input from residents about data center development.
Not one, but two hotels are now planned or proposed for Chicago's Northalsted LGBTQ+ nightlife district.
After the Double Door closed in Wicker Park, there was reassurance that the Double Door would return, at a new location in the city's Uptown neighborhood. Now that is not happening anymore.
Barnes & Noble was set to reopen in Skokie on Wednesday, just weeks after it closed.
Actor and filmmaker Bruce Campbell told fans that he is in treatment for cancer and will cancel some upcoming public appearances.
Singer-songwriter Neil Sedaka, known for his hits like "Laughter in the Rain," "Breaking Up is Hard to Do" and "Calendar Girl," has died.
A 19th-century George Méliès film, thought to be long lost, has been found among a box of brittle movie reels that a Michigan donor brought to the Library of Congress, officials said.
Streaming giant Netflix declined to match Paramount Skydance's $31 per share offer for Warner Bros. Discovery.
After the Double Door closed in Wicker Park, there was reassurance that the Double Door would return, at a new location in the city's Uptown neighborhood. Now that is not happening anymore.
The Cleveland Clinic says eating breakfast can boost brain function and lower diabetes risk, but skipping it might have benefits, including increased alertness and better digestion.
The "Neo" was officially unveiled on Wednesday after Apple accidentally leaked details of the new laptop on Tuesday.
The airline says passengers who blast audio from their devices and refuse to wear headphones or earbuds could get kicked off their flight.
Participants at Harold L. Richards High School helped to raise $9,000 to benefit Special Olympics Illinois. Their original goal was $3,000.
Showers and a few thunderstorms continue through midday Thursday before gradually tapering off during the afternoon.
The burglaries took place between 2:30 a.m. and 4:30 a.m. in the Kenwood, South Shore, Washington Heights, Beverly, Archer Heights, and West Elsdon neighborhoods, police say.
The White House says they're working to get Americans out of the Middle East, but Americans there say the government left them stranded.
The restrooms look like pods, each with a toilet that is cleaned after each use, and the floors are power-washed.
One Chicagoan is trying to make her way out of Israel as the war with Iran intensifies, and she's more than five months pregnant.
Former presidents Bill Clinton, Barack Obama and Joe Biden will be in Chicago Friday for Rev. Jesse Jackson's funeral.
A proposed Illinois law hopes to create more oversight on private companies to protect consumers from skyrocketing utility prices.
The three women said they are working to make their way back home, but without any help from the U.S. State Department.
If you feel like you're drowning in a sea of text alerts and desperate email pleas for "just $5" this election season, you are far from alone.
A north suburban school bus driver became a victim of sophisticated scammers who are targeting more people and more vulnerable populations to make more money.
Both couples are still actively fighting for their kids, knowing it will be a long and complicated road.
Northwestern was in control before Purdue got back in the game with a 9-0 run in the second half.
Last-place Loyola Chicago came in shooting just 31% on 3s, but kept it close by outscoring the nation's top 3-point shooting team by nine from behind the arc.
Holtz coached Notre Dame from 1986 to 1996, winning 100 games with the school, including a 12-0 national title-winning season in 1988.
Illinois is a win away from a triple-bye and berth in the quarterfinals next week in the Big Ten Tournament.
The Bulls got back to losing after stopping an 11-game skid with a lopsided win over Milwaukee on Sunday.
Two women are dead in Pennsylvania and a man is dead in Hillside, Illinois, after an apparent murder-suicide, police said.
Chicago police on Wednesday warned of a string of charity scam incidents in the on the Near West and South sides in recent weeks.
Burglars stole an ATM from a bar in Chicago's Little Village neighborhood early Wednesday morning.
Burglars made off with thousands of dollars early Wednesday after breaking into a pizzeria on Chicago's Southwest Side.
The jury has found Colin Gray, the man whose teenage son is accused of killing two students and two teachers in a shooting at Georgia's Apalachee High School, guilty of second-degree murder and all other charges.
