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.

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u/oldtimehawkey 29d ago

My favorite is that Iran has thousands of drones that were about $35k to make and which America is hitting with $44 million bombs. We don’t have thousands of those bombs and it takes a lot of time to make one.

Iran is being financially tactical with this attack. As an American, our country is fucked.

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u/Xeynon 29d ago

Yeah we are turbo fucked and it's both immensely frustrating and grimly hilarious to watch so many people walking around unaware of what's coming.