Experts warn the real pinch from the Iran war is about to strike

Key Points:

• U.S. gas prices are expected to continue rising for weeks or months due to renewed conflict initiated by President Donald Trump against Iran, with experts predicting national averages could reach $4.20 to $4.30 per gallon.
• The current national average price for a gallon of gas is about $4.11, nearly $1 higher than last year, while diesel prices have increased by 40% to an average of $5.24 per gallon, according to AAA.
• The conflict has disrupted oil tanker traffic through the Strait of Hormuz, a critical passage for about 20% of international oil supplies from the Persian Gulf, and threats from Yemen’s Iran-backed Houthi rebels have further endangered Saudi oil shipments.
• Analysts warn that ongoing violence and geopolitical tensions are likely to push oil prices higher, with key market buffers depleted, increasing the risk of sharp price corrections and impacting market sentiment.
• West Texas Intermediate crude oil futures remain elevated, trading above $89 a barrel, reflecting sustained volatility and price pressure amid the unfolding conflict.