'Absolutely Massive' Price Shocks Coming as Trump's Iran War Drives Up Gas, Diesel Prices
Common Dreams • • business
Key Points:
- President Donald Trump's attack on Iran has caused a significant surge in oil prices, leading to higher fuel costs for Americans at the gas pump.
- Diesel prices in the US have reached $4 per gallon, the highest since April 2024, with projections to rise further to between $4.25 and $4.45 per gallon.
- Gasoline prices are nearing $3.20 per gallon and are expected to increase to at least $3.30 per gallon soon, levels not seen since September 2024.
- Goldman Sachs and JPMorgan Chase have raised their Brent crude oil price forecasts, with projections reaching $76 per barrel for Q2 2026 and potentially $100-$120 per barrel if the Strait of Horm
