High Oil and Gas Prices Could Outlast Trump's War With Iran

[dalton99a]

https://www.nytimes.com/2026/03/24/us/politics/oil-gas-prices-iran.html

High Oil and Gas Prices Could Outlast Trump’s War With Iran
While the president has promised rapid relief, Americans could feel the financial sting of the conflict for some time after it ends.
By Tony Romm and Rebecca F. Elliott
March 24, 2026

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An end to the war would abate a geopolitical crisis and most likely help to reopen clogged shipping lanes in the Middle East, nudging down oil and gas prices from their recent highs. But any relief would arrive gradually for most consumers — and probably not fast enough to undo the damage to the U.S. economy.

Mark Zandi, the chief economist for Moody’s Analytics, said the prospect of sustained high costs affirmed a well-worn adage in the energy industry: “Prices rise like a rocket, fall like a feather.”

The exact timeline will depend on many factors, including the extent of the damage to the energy infrastructure in the Middle East and the fate of the Strait of Hormuz, a major oil and gas thoroughfare that has been all but closed for weeks. The trajectory for prices will also vary by fuel type: The war has strained the global supply of diesel and jet fuel, in particular, meaning those prices could stay higher for a longer period.

Such spikes tend to ripple across the economy in myriad, lasting ways. Groceries could become more expensive because of higher shipping costs, for example, while airfares in the summer travel season similarly could rise. In an early, ominous sign, the top executive of United Airlines warned Bloomberg Television on Tuesday that it could raise ticket prices by 20 percent if the war with Iran continued to bog down jet fuel.

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[Srkdqltr]

1. Geee now that people are used to paying a high price for gas you think the companies will lower the price?

If it was your company, would you?