
The Iran War and the Long-Term Risks to Energy Affordability
As the Iran war continues, oil prices keep rising. Gasoline has climbed to over $4 per gallon for the first

As the Iran war continues, oil prices keep rising. Gasoline has climbed to over $4 per gallon for the first

As the Iran war continues, oil prices keep rising. Gasoline has climbed to over $4 per gallon for the first time in four years. The ripple effects are spreading across the economy as markets that depend on affordable crude begin to absorb the disruption of roughly one-fifth of the world’s oil and liquefied natural gas that normally passes through the Strait of Hormuz. Everything from airline tickets to groceries is seeing upward pressure as the prices of jet fuel, diesel, and fertilizer all rise.
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