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Relief at the gas pump remains uncertain amid conflicting signals on Iran, and as elevated oil prices and tightening global supply threaten to push up fuel costs.
Gas prices fell last week across all 50 states, though relief could be short-lived, according to a GasBuddy forecast. Hopes for a potential U.S.-Iran agreement have dimmed after reports that Iranian negotiators stopped communicating and are moving to fully close the Strait of Hormuz.
GasBuddy’s forecast says drivers could see the most expensive summer in years as long as the strait remains closed.
“Americans are going to pay billions more to get where they’re going this summer, and even after the Strait reopens, it could take a year or more for prices to fully recover,” said Patrick De Haan, head of petroleum **** ysis at GasBuddy. “This is the most volatile summer at the pump in years.”
Relief at the gas pump remains uncertain amid conflicting signals on Iran, and as elevated oil prices and tightening global supply threaten to push up fuel costs.
Gas prices fell last week across all 50 states, though relief could be short-lived, according to a GasBuddy forecast. Hopes for a potential U.S.-Iran agreement have dimmed after reports that Iranian negotiators stopped communicating and are moving to fully close the Strait of Hormuz.
GasBuddy’s forecast says drivers could see the most expensive summer in years as long as the strait remains closed.
“Americans are going to pay billions more to get where they’re going this summer, and even after the Strait reopens, it could take a year or more for prices to fully recover,” said Patrick De Haan, head of petroleum **** ysis at GasBuddy. “This is the most volatile summer at the pump in years.”
2 days ago
