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When Kevin Ketels bought an electric 2026 Chevrolet Blazer last year, he wasn’t thinking about the cost of gas. He just thought EVs were better and “wanted to be part of the future.” Now that the Iran war is spiking prices at the pump, the Detroit man is happy he is no longer filling up his 11-year-old gas-powered SUV.“Electricity can go up, but it won’t go up nearly as much as gas will and it won’t go up nearly as fast, either,” said Ketels, 55, an assistant professor of global supply chain management at Wayne State University.Experts say prolonged high gas prices may drive some EV interest and sales, especially if drivers assume their electricity prices won’t be affected by the crises.But many factors influence consumer EV purchases and electricity rates. Are EV owners truly insulated from price hikes? Drivers of gas-powered vehicles are much more vulnerable to fluctuating prices that result from global conflict than those who charge their cars. The national average for a gallon of regular gas this week was $3.57, up from $2.94 a month ago, according to AAA.Meanwhile, “residential electricity prices are regulated and are much less volatile than gasoline prices,” said University of California, Davis economics professor Erich Muehlegger. “As a result, EV owners are largely unaffected by oil price shocks.”But experts say electricity prices have been increasing nationally for a variety of reasons, including surging power demand from new data centers.“This is an inflationary event,” Holt Edwards, principal in Bracewell’s Policy Resolution Group, said of the war. “Is this the driver in electricity prices? I think probably not. But it’s certainly a contributing factor.”To what extent oil and gas conflicts could translate to the electricity sector is yet to be seen. What about how different grids are powered? When it comes to the electricity an EV owner is tapping, much of the cost depends on which sources of electricity are in a local grid’s power mix, experts say.Because regulators set residential electricity prices annually, most households are sheltered from month-to-month changes in natural gas costs. Though experts say higher natural gas prices can increase the cost of generating electricity, natural gas prices haven’t risen as quickly or as much as oil prices have recently.Those are just two of many energy sources including coal, nuclear and renewables that power the electric grid.“The energy component varies depending on the energy you’re using and the price of the energy that you’re using to generate electricity,” said Pierpaolo Cazzola, an energy expert at Columbia University’s Center on Global Energy Policy. “What happens is that in the U.S., the variation of the price of the energy component is smaller than it is elsewhere.”The experts said persistent war could affect electricity bills in the future. And that is all the more reason for countries to transition to clean power, they said.“Clean power and electrification combined is what provides the most security,” said Euan Graham, an analyst at energy think tank Ember.Michael B. Klein, a 56-year-old software developer in Evanston, Illinois, has driven EVs for the past eight years to save on fuel costs and because of environmental concerns.Every time electrical grid efficiency improves especially as renewables are added “I get that benefit no matter what,” said Klein, who drives a Chevy Bolt. “They can improve the efficiency of gas engines, but you have to get a new car in order to reap the benefit of that.” So will EV demand rise? Several experts say high gasoline prices are a strong driver of EV sales, particularly if high prices persist. Drivers also consider more gasoline-efficient hybrid vehicles during these times.Car-shopping resource Edmunds analyzed consumer shopping data for the week starting March 2, after the Iran war had begun. They found that interest in hybrids, plug-in hybrids and battery EVs accounted for 22.4% of all vehicle research activity on their site that week, up from 20.7% the previous week. Analysts also looked back at the last major nationwide fuel price surges in 2022, and they saw that consideration of electrified vehicles rose sharply then, too.But whether this means more EV purchases depends on whether buyers expect to save not just now but in the future, experts say.Adding to the complexity: A sudden increase in EV demand could drive up prices, Graham said.“I think the real step change would be in whether this causes governments to shift tax, tariff policies around EVs,” Graham said. Doing so would help reduce fossil fuel dependence, he said. Does driving electric really save money? Pretty much.People who buy EVs have a “really substantial” gas savings over the life of their vehicles even without government tax credits, said Peter Zalzal, an attorney with Environmental Defense Fund.“We’re talking about thousands and thousands of dollars” in savings, Zalzal said. “And as gas prices increase, those savings are only greater. Fuel costs are a big piece of overall vehicle costs, and increases in fuel prices have significant impacts on people.”However, the upfront cost of a new EV is still more than that of a gasoline-powered vehicle; new EVs sold for an average of $55,300 last month, while new vehicles overall sold for an average $49,353, according to auto-buying resource Kelley Blue Book. Some experts also expressed national security concerns with EVs because China dominates significant parts of the EV supply chain.Ketels, the EV owner and professor, said he believes EVs and renewable energy should be a strategic priority for individuals and the U.S. because they could be produced domestically “and we don’t have those fluctuations and those worries.”But because the federal government has withdrawn many incentives for both, “it puts us at a disadvantage globally,” Ketels said. “I think it’s been a terrible mistake to withdraw these incentives and to attack the sustainable energy industry,” and the war “is just making it that much more obvious.” Read more of AP’s climate coverage. The Associated Press’ climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org. Alexa St. John and Tammy Webber, Associated Press
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E-Commerce
Dollar Generals fourth-quarter and full-year 2026 earnings report shows some successesthough you wouldnt know that by the reaction of its stock. Shares of Dollar General Corp (NYSE: DG) fell more than 6% in premarket trading on Thursday following the reports early-morning release. And yet the discount retailer’s financial results include figures such as a 5.9% increase year-over-year (YOY) in quarter-four, with net sales increasing to $10.9 billion. Its 2025 net sales saw a similar jump of 5.2% YOY to $42.7 billion. Same-store sales also rose 4.3% YOY in the last quarter and 3% YOY for 2025. Notably, Dollar General did predict slower growth for 2026. It expects net sales to increase between 3.7% and 4.2% over the year, while it estimates same store sales to grow 2.2% to 2.7%. Dollar General store closures The 2025 report is free of one ominous announcement that loomed over last years results: additional store closures. In its fiscal 2024 fourth-quarter report, Dollar General announced that it would shutter 96 of its namesake stores and 45 PopShelf locations, a retail chain the company owns. The 141 store closures followed 117 other shutterings throughout the year. This time around there are, at least, no additional store closure announcements, and in fact Dollar General ended the year with a net gain in stores. Dollar General shuttered 290 stores across the two brands in 2025 (which the 141 announced would be included in). But it opened 589 locations. As of January 30, 2026, Dollar General had a total count of 20,893 stores, compared to 20,594 at the same time last year. At publication, Dollar General stock was down more than 7% in early Thursday trading.
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E-Commerce
A widening war in Iran has halted oil tankers, made targets of refineries and spooked investors worried about the cascading impact of spiking energy prices.In response, the International Energy Agency agreed on Wednesday to release the largest volume of emergency oil reserves in its history, with the Paris-based organization pledging to make 400 million barrels of oil available from its member nations’ stockpiles. The announcement marked a shift in momentum in government response to the war upending the flow of oil, with other global leaders previously indicating reluctance to tap into stockpiles.Here is a look at the energy supplies that countries hold and when they tap them: Many countries have reserves of oil Since war erupted in the Middle East on Feb. 28 with the U.S. and Israel’s joint attacks on Iran, the flow of oil tankers through the Strait of Hormuz has all but stopped, cutting off a vital passageway where roughly one-fifth of the world’s oil sails through on a typical day. Major producers in the region like Iraq, Kuwait and the United Arab Emirates have also cut production because they are running out of storage space. And Iran, Israel and the U.S. have all struck oil and gas facilities, worsening supply concerns.That has sent prices soaring with dramatic swings almost every day. On Monday, Brent crude oil the international standard surged to as high as nearly $120 a barrel, before falling to under $90 after President Donald Trump suggested the war could be near an end. But attacks have continued to escalate since, pushing prices back to about $100 a barrel.Countries around the world hold vast quantities of oil that they can use in the event of a crisis.Because oil is a global commodity and flooding the market with a sudden stream of new supply has international implications, countries often talk to one another before tapping reserves. That includes coordinating with the IEA, an organization created in the aftermath of the 1973 oil crisis. It has 32 members including Germany, Austria and Japan, all of whom confirmed Wednesday that they would be tapping parts of their reserves. The U.S., Mexico, Australia and other major countries are also part of the IEA.IEA members currently hold over 1.2 billion barrels of public emergency oil stocks, with a further 600 million barrels of industry stocks held under government obligation. The largest-ever previous collective release of emergency stocks by IEA member countries was 182.7 million barrels following Russia’s full-scale invasion of Ukraine in 2022.Each of the IEA member countries promises to have a reserve at least equivalent to what they import in a 90-day period. The U.S. exports more than it imports, maintaining its own reserve known as the Strategic Petroleum Reserve despite there being no requirement. But for other countries, tapping their reserves means that they will eventually need to replenish what was removed.“Because of that, countries tend to keep reserves for a last-resort scenario, should the disruption be prolonged,” said Maksim Sonin, an energy executive who works with Stanford University’s Hydrogen Initiative. Timing a release is tricky Opting to use oil reserves is never a simple calculation, particularly when linked to a war with constantly shifting parameters and no clear timeline.When nations tap into strategic reserves in situations like the war in Iran, the oil is sold into the global marketplace, theoretically increasing supply and thus, lowering prices.“The key question on drawing down these reserves remains one of, ‘How long will this conflict last?'” said Tom Seng, an energy finance professor at Texas Christian University. “And, more importantly, ‘How long will the Strait of Hormuz remain blocked?'”Oil reserves have been tapped when the market has faced major disruption in the past, including wars in Iraq, Libya and, most recently, in Ukraine.Kenneth Medlock, senior director of the Center for Energy Studies at Rice University, said it’s not a matter of whether the current conflict is serious enough to merit intervention, but whether the precise moment has arrived.“The price is up but it could get worse,” Medlock said. “What happens if this drags on for two, three months? Then you run into a situation where you lose your buffer.” Shift in discussions and the impact on prices Before Wednesday, countries were reticent to tap reserves. Over the weekend, Trump downplayed the idea of turning to the U.S. reserve, maintaining that supplies were ample and prices would soon fall.But that’s changed. On Wednesday, the president told WKRC Local 12 in Cincinnati his administration would tap into the SPR “a little bit” to bring down prices. Secretary of Energy Chris Wright later confirmed the U.S. would release 172 million barrels as part of the IEA’s effort.Representatives from the Group of Seven major industrialized powers previously held off on using strategic reserves earlier this week, too. But G7 nations also joined the IEA effort. French President Emmanuel Macron praised Wednesday’s decision and noted the amount pledged by the G7 nations alone comprises 70% of the total, including 14.5 million barrels from France.Talk of tapping into national reserves helped ease energy markets earlier this week. But crude prices actually ticked up after the withdrawal was confirmed Wednesday, with Brent rising 4.8% to settle at $91.98. That is far higher than the roughly $70 it was selling for before the war started less than two weeks ago.Analysts maintain the IEA’s release of 400 million barrels is a short-term bridge, making up for just a few weeks of lost supply. Matt Sedensky and Wyatte Grantham-Philips, Associated Press
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