Iran conflict could push gas prices higher for weeks, experts warn

1 min read
Source: The Independent
Iran conflict could push gas prices higher for weeks, experts warn
Photo: The Independent
TL;DR Summary

As the Iran conflict drags on, energy analysts warn US gas prices will climb for weeks, with forecasts of about $4.20–$4.30 per gallon and diesel around $5+. Oil futures sit near $89 a barrel as disruptions to tanker traffic via the Strait of Hormuz and threats from Iran-backed forces add to market jitters, challenging bets that the conflict would quickly wind down and potentially pushing prices higher before any near-term relief.

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