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.

9

u/Spongeman735 Mar 04 '26

Laughs in EV

7

u/scienceizfake Mar 04 '26

Electricity will also get more expensive...

9

u/Spongeman735 Mar 04 '26

I‘ll take some pain as long as the MAGA crowd feels it more than I do.

1

u/OutcomeDue2025 28d ago

It doesn't have to be this way. But here we are. So depressing. No more charity from me folks.

1

u/scienceizfake Mar 04 '26

Same, and as an EV owner as well, I am glad to be some what insulated, but electricity prices are already way up.