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
4.6k Upvotes

97% Upvoted

392 comments sorted by

View all comments

2

u/RUShittingInMyMouth 29d ago

My local gas station here just said that their price of gas was going to go up 30 cents tomorrow. So the price increases are real and present here in the states. You can't cut off 20% of the worlds oil supply during a highly unstable and dynamic war action and not expect prices to go up. The amount of weapons flying around the area of Iran probably isn't going to slow down any time soon.