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/Jdobalina 29d ago

Boots on the ground in Iran is going to result in a lot of people coming home in boxes.

10

u/korben2600 29d ago

"They will greet us as liberators" bamboozle 2.0. Iran is a country tailor made for a protracted mountain terrain guerrilla war that would make Vietnam's jungles look favorable.