As the war in Iran moves through its fourth week, questions of how the conflict could reach consumers in the United States continue to linger.
On Feb. 28, the U.S. and Israel launched a series of deadly airstrikes on Iran that killed the country’s Supreme Leader, Ayatollah Ali Khamenei. What followed on the ground in the U.S. was a sudden spike in the national gas average — costs that have continued to climb in the weeks since, nearing, but not quite matching, those after Russia’s 2022 invasion of Ukraine.
When the war might end remains uncertain. President Donald Trump on Monday extended his deadline for Iran to reopen the Strait of Hormuz another five days, delaying threats to attack Iranian power plants until Friday.
The average cost per barrel of Brent crude oil fell to around $102 Wednesday, significantly higher than the pre-war $70 average.
Should the war continue and oil prices remain high, repercussions could ripple even further throughout the U.S. economy — spiking travel ...
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