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The Best and Worst Case Scenarios for Gas Prices. A Petroleum Analyst Gives His Take Amid the Ceasefire in Iran.
Patrick De Haan said a ceasefire in Iran could keep U.S. gas near mid-$3 a gallon, while a disruption could push prices to $6 or $7.
- GasBuddy Head of Petroleum Analysis Patrick Haan warns Americans could see mid-$3 gas prices this summer at best, though worst-case scenarios might reach record-setting costs of $6 or $7 per gallon.
- Confusion over the Strait of Hormuz and Iran's ceasefire has created market volatility; Haan noted oil prices are 'pricing in what's happening' and potential future regional developments.
- Prices are already jumping noticeably in Minneapolis, Des Moines, and Denver; Haan stated some motorists may see only minor decreases over the weekend despite recent oil plummets.
- The Trump administration, like the Biden administration, is waiving rules to allow E15 fuel sales; this waiver will not reduce prices for regular gasoline Americans primarily use.
- People should prepare for potential price increases and consult trusted news sources to avoid social misinformation, as global oil displacement makes it difficult to predict developments beyond 48 hours.
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The best and worst case scenarios for gas prices. A petroleum analyst gives his take amid the ceasefire in Iran.
What are the best and worst case scenarios for gas prices right now? A petroleum analyst gives his take amid the ceasefire in Iran. (AP Photo)
·Spokane, United States
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Coverage Details
Total News Sources18
Leaning Left1Leaning Right0Center16Last UpdatedBias Distribution94% Center
Bias Distribution
- 94% of the sources are Center
94% Center
C 94%
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