Fox News and Fox Business aired an on-air correction this week after a graphic on 'America Reports' falsely claimed gas prices were lower now than a year ago, listing last year's price as $4.13 rather than the actual $3.13 — turning a 90-cent increase into an apparent decrease. The error aired Monday and was corrected Tuesday, with Fox Business's Ed Lawrence acknowledging on air that prices had in fact risen 90 cents over the year.
The actual increase has largely been attributed to fallout from Trump's war on Iran and the resulting standoff over the Strait of Hormuz. Lawrence added that the Trump administration says prices will fall quickly once operations in Iran end.
The full dispatch is available from the source below.