Even if the war ends now, it will take months for prices to come down
Published
June 10, 2026 6:30AM (EDT)
Fuel prices are displayed at a gas station in Brooklyn on June 01, 2026. Oil prices around the globe continue to rise as talks drag on between the United States and Iran over the closing of the Straight of Hormuz, causing a surge in the price of oil and a strain on millions of people's finances. (Photo by Spencer Platt/Getty Images)
When the United States and Israel launched attacks on Iran in late February, resulting in a dramatic decrease in oil and natural gas production in the region, analysts hoped that a speedy resolution to the war could mean a quick return to prewar levels of energy production. But more than 100 days later, with no end to the war in sight, President Donald Trump and his allies have all but guaranteed high energy prices through the summer and beyond.
