Krugman: No Gas Relief Soon as Iran War Prolongs Oil Market Strains

Famed economist Paul Krugman warned that with no end in sight to President Trump’s Iran war, U.S. gas prices are unlikely to fall for months. Oil hovered near $100 a barrel, with national averages around $4.22 per gallon for gas and $5.94 for diesel, as global tensions help keep prices elevated. He argued that even if a peace between Trump and the Iranian regime materialized, high prices would persist due to multiple, intertwined supply and geopolitical factors, including Russia’s war in Ukraine.