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One industry analyst tells me if the war continues and oil supplies stay disrupted, $6 *** gallon this summer is not out of the question. Now the White House is telling me that once the war ends, gas prices will drop dramatically, but experts say not so fast. I’m not liking it, man. Sticker shock across the country. It’s too expensive. They’re so crazy. I don’t know what they do in the White House over there. As Americans, for the first time in years are paying more than $4 *** gallon on average nationwide. Where is it going to stop is my question. It all comes down to this narrow waterway off Iran’s coast, the Strait of Hormuz, where about 1/5 of the world’s oil normally. Passes through. Iran has effectively halted tanker traffic, choking off global oil supply, pushing up prices everywhere. It’s entirely likely that by midsummer, if nothing’s changed, we will see gasoline prices in the $5 to $6.07 dollars range, even in California. President Donald Trump has *** deadline for Iran to reopen the strait or face strikes on vital infrastructure. But now he’s also signaling that countries hurt most by the closure may have to deal with it themselves. On social media, the president told those countries to either buy oil from the US or as he put it, build up some delayed courage and just take it. So he’s pointing out this is an international waterway that we use less than most, in fact, dramatically less than most. So the world ought to pay attention and be prepared to stand up. Energy experts say even though the US uses less of that oil than many other countries, Americans still feel the pain because oil is traded in *** global market. The Southeast Asian economies, Vietnam, Japan, they will be paying higher. Prices and competing with the motorist in Hartford, the motorist in Houston, the motorist in San Francisco. And it’s not just drivers feeling this, but diesel prices now, according to AAA, $5.45 *** gallon, which is *** big warning sign for shipping, trucking, and everyday goods at the White House. I’m Christopher Sales.
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Gas prices hit $4 nationwide, experts warn $6 by this summer
Gas prices have topped $4 a gallon nationwide as the Iran War and Strait of Hormuz disruptions rattle oil markets, with some experts warning prices could climb even higher this summer.
Gas prices officially surpassed $4 a gallon nationwide, according to AAA, driven by the war in Iran and disruptions in the Strait of Hormuz.”I’m not liking it, man,” one Florida driver said. Another driver added, “This is too expensive. They’re so crazy. I don’t know what they do in the White House over there.” An energy industry expert warned that if the war continues and oil supplies remain disrupted, $6-per-gallon gas could be a reality this summer. “It’s entirely likely that by mid-summer, if nothing’s changed, we will see gasoline prices in the five to $6, even $7 range in California,” said Ed Hirs, a University of Houston energy fellow.The White House has indicated that prices will drop once the war ends, but some experts warned that relief may not come quickly.The Strait of Hormuz, a narrow waterway off Iran’s coast where about one-fifth of the world’s oil passes through, is at the center of the issue. Iran effectively halted tanker traffic, choking off the global oil supply and pushing up global prices.President Donald Trump set an April 6 deadline for Iran to reopen the Strait or face strikes on vital infrastructure. On Tuesday, he suggested that countries affected by the closure may need to handle the situation themselves. On social media, Trump advised these countries to either buy oil from the U.S. or “build up some delayed courage” and “just take it.””He’s pointing out this is an international waterway that we use less than most. In fact, dramatically less than most. So the world ought to pay attention to be prepared to stand up,” said Defense Secretary Pete Hegseth.Energy experts noted that although the U.S. uses less oil from the Strait of Hormuz than many other countries, Americans still feel the impact because oil is traded in a global market. “The Southeast Asian economies, Vietnam, Japan, they will be paying higher prices and competing with the motorist in Hartford, the motorist in Houston, the motorist in San Francisco,” Hirs said.Hirs said releases from strategic oil reserves in the U.S. and other countries have helped “dampen the price shock.” He also warned that relief is temporary and prices could climb further as those reserves are depleted.Diesel prices have also surged to $5.45 a gallon, which signaled potential issues for shipping, trucking, and overall inflation.The Pentagon reported that the next few days could be decisive in the war. Hegseth said Iran fired the lowest number of missiles and drones in the last 24 hours since the war began. Iran’s president has expressed willingness to end the war but seeks security guarantees before agreeing to any deal.Follow the Washington News Bureau’s coverage of the Iran War:
Gas prices officially surpassed $4 a gallon nationwide, according to AAA, driven by the war in Iran and disruptions in the Strait of Hormuz.
“I’m not liking it, man,” one Florida driver said. Another driver added, “This is too expensive. They’re so crazy. I don’t know what they do in the White House over there.”
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An energy industry expert warned that if the war continues and oil supplies remain disrupted, $6-per-gallon gas could be a reality this summer.
“It’s entirely likely that by mid-summer, if nothing’s changed, we will see gasoline prices in the five to $6, even $7 range in California,” said Ed Hirs, a University of Houston energy fellow.
The White House has indicated that prices will drop once the war ends, but some experts warned that relief may not come quickly.
The Strait of Hormuz, a narrow waterway off Iran’s coast where about one-fifth of the world’s oil passes through, is at the center of the issue. Iran effectively halted tanker traffic, choking off the global oil supply and pushing up global prices.
President Donald Trump set an April 6 deadline for Iran to reopen the Strait or face strikes on vital infrastructure.
On Tuesday, he suggested that countries affected by the closure may need to handle the situation themselves. On social media, Trump advised these countries to either buy oil from the U.S. or “build up some delayed courage” and “just take it.”
“He’s pointing out this is an international waterway that we use less than most. In fact, dramatically less than most. So the world ought to pay attention to be prepared to stand up,” said Defense Secretary Pete Hegseth.
Energy experts noted that although the U.S. uses less oil from the Strait of Hormuz than many other countries, Americans still feel the impact because oil is traded in a global market.
“The Southeast Asian economies, Vietnam, Japan, they will be paying higher prices and competing with the motorist in Hartford, the motorist in Houston, the motorist in San Francisco,” Hirs said.
Hirs said releases from strategic oil reserves in the U.S. and other countries have helped “dampen the price shock.” He also warned that relief is temporary and prices could climb further as those reserves are depleted.
Diesel prices have also surged to $5.45 a gallon, which signaled potential issues for shipping, trucking, and overall inflation.
The Pentagon reported that the next few days could be decisive in the war. Hegseth said Iran fired the lowest number of missiles and drones in the last 24 hours since the war began. Iran’s president has expressed willingness to end the war but seeks security guarantees before agreeing to any deal.
Follow the Washington News Bureau’s coverage of the Iran War:
