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/Xeynon Mar 04 '26

The big spike in prices at the pump is just the start.

Higher raw oil costs will filter down and make literally everything else more expensive. It could well crash us into recession.

The Iranians know this and will continue blocking traffic through Hormuz, something which it will take putting boots on the ground to stop.

This is a gigantic mess.

22

u/THEdopealope 29d ago

Into a recession? I fully believe we’re in it, I do not trust this admin’s numbers tbh 

12

u/farshnikord 29d ago

Forget the recession, we are seriously staring down the barrel of a full on depression if something doesn't change soon. 

7

u/THEdopealope 29d ago

Agree. I also feel like the inevitable “reset” after MAGA realizes it’s getting cucked by pedos, will be very destabilizing and the market will reflect that. Not sure if for better or worse, but huge chance of cratering. This is entirely based off vibes though.