Even if the Iran war ended today, US fuel prices aren’t likely to normalize this year

Prewar US gas prices averaged about $3 a gallon nationally – kiss that number goodbye for 2026Sorry, US drivers, but don’t expect pump prices to return to prewar levels any time soon, even if the US and Iran agree to a lasting peace deal tomorrow.As the war with Iran enters its third month, drivers have become infuriated by rising gas prices – and inflation – and Donald Trump is facing a historic backlash in the polls. The president promised recently that relief will be swift once the war ends. “I see it going down very substantially when this is over, I think very rapidly too, at levels that you’ve never seen,” he said. Continue reading...