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

AI Summary

US fuel prices are not expected to return to prewar levels this year even if a lasting peace deal with Iran is achieved. The ongoing conflict with Iran is causing higher gas prices and inflation, impacting US drivers and the broader economy.

Prewar US gas prices averaged about $3 a gallon nationally – kiss that number goodbye for 2026 Sorry, 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...