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US gas prices have gone up, and up, and up since the country bombed Iran in late February. In March, I reported that the average price of gas in the country had gone up from $2.89/gallon to $3.48/gallon. Now, the average price of gas in the US is $4.517/gallon. That’s a 56% increase in the price of gasoline since the US bombed Iran!
This is clearly adding excess cost to budget-strapped households.
Every day or so, there is chatter about potential solutions to the war in Iran and Straight of Hormuz blockades. However, we are yet to see real solutions to get us past this crisis. In a report a couple of days ago, the New York Times wrote, “Hopes for an end to the war in Iran faded after President Trump failed to secure a commitment from China to help persuade Iran to reopen the Strait of Hormuz.” The title of the article: “Oil Prices Climb on Fears of Broader Energy Crunch.” Indeed.
Two months ago, I wrote an article exploring rising gas prices. They had gone up on average in the United States from $2.89/gallon right before the US bombed Iran to $3.48/gallon according to USAA. Now, the average price of gas is up to $4.513/gallon. Yowzers!
