Gas prices won’t drop to $3 soon—even with Iran ceasefire, experts say
TL;DR
US gas prices around $4.15–$4.17 per gallon aren’t expected to fall back to prewar $3 even if Iran’s ceasefire holds. Uncertainty over reopening the Strait of Hormuz, plus ongoing Gulf production cuts, possible tolls, higher shipping insurance, and risk premiums in oil futures—all compounded by global market dynamics—mean relief to below $3 is unlikely this year, with some analysts suggesting it may not happen until next year.
- Why $3 gas won't come back anytime soon, even with a ceasefire in Iran Yahoo
- A ceasefire will not prevent the Iran war’s economic harm The Economist
- Trump promised a post-war economic rebound. The damage may linger far longer. Politico
- Opinion | The Strait of Hormuz disproves an armchair narrative about globalization The Washington Post
- Trump’s America First dreams collide with economic reality The Boston Globe
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