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As the year kicks off, the corporate office of gas station companies are determining prices. Large jumps of 20 to 25 cents will be likely instead of a series of small, continuous increases.
Due to reduced inventories, rising wholesale prices, and political tension in the Strait of Hormuz, global markets are seeing increases in the price of gasoline. Approximately one-third of the oil sent to the United States passes through the Strait of Hormuz. Any rise in the cost of gas would impact the transportation costs associated with delivering food to supermarkets and hunger centers.
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