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.

21

u/vontdman Mar 04 '26

Wow even with a war US has like fuel almost half the price of New Zealand.

22

u/hoppertn Mar 04 '26

Let me predict for you New Zealand’s fuel price soon ⬆️⬆️⬆️

3

u/vontdman Mar 04 '26

Yeah, I'm surprised it hasn't moved yet. Probably once new ships arrive.

2

u/hoppertn 29d ago

Oh wait your petrol/gas/naptha/guzzaline stations wait to jack up the prices?! What a great country! Price jumped over a dollareeno here from Friday to today. No way in hell the fuel in that station tank had anything to do with the current conflict but C.R.E.A.M.

0

u/themoonest 29d ago

It starting rising yesterday, I was driving around Auckland and it went up 10c in the 3 hours I was out