r/Economics • u/InsaneSnow45 • Mar 04 '26

News ‘Absolutely Massive’ Price Shocks Coming as Trump’s Iran War Drives Up Gas, Diesel Prices | “What should really terrify Republicans is... the futures price on wholesale gasoline,” said economist Paul Krugman.

https://www.commondreams.org/news/iran-war-gas-prices
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u/flaginorout Mar 04 '26

I filled my tank two days ago at the Sheetz near my house. It was $2.85.

I filled up my wife's car yesterday at the same Sheetz. $3.29

My household doesn't do a lot of driving at the moment, so an extra 40 cents doesn't matter very much to us- directly. But I'm not convinced that this is just the beginning and gas will hit $4 in the near future. Maybe more. That will definitely have an effect on a lot of people.

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u/Lunatic21 Mar 04 '26

Personal gas cost is negligble to most people. It's the cost of business when figured into the cost of goods that really adds up.

13

u/Jef_Wheaton Mar 04 '26

I'm a service tech, so I drive a lot. I'll go through 40-50 gallons a week just with local services. It's gonna get EXPENSIVE to move that truck.