How high could oil and gas prices go if the Strait of Hormuz remains closed?

How high could gas prices go? Record not out of the question

As the war in Iran continues, and with President Donald Trump suggesting strikes could continue for weeks, gas prices hit another recent high Thursday.According to AAA, a gallon of regular gas now averages $4.08 in the U.S., the highest in four years. Gas prices surged above $4 a gallon in the months following the start of the Ukraine-Russia conflict in 2022.During that conflict, prices briefly hit $5.02 a gallon the only time in U.S. history th…

How high could oil and gas prices go if the Strait of Hormuz remains closed?

"The scary scenarios are, unfortunately, extremely plausible" if the critical Persian Gulf waterway stays effectively sealed, economist Paul Krugman said.

This Energy Crisis Is Going to Change the World

Jonathan Mingle, The New York Times This week, the final deliveries of oil and liquefied natural gas to Asia that passed through the Strait of Hormuz before it was closed are expected to...