US Gas Tops $4 a Gallon as Iran Deal Doubts Cloud Strait of Hormuz Oil Flow
Updated
Updated · The National Desk · Jun 17
US Gas Tops $4 a Gallon as Iran Deal Doubts Cloud Strait of Hormuz Oil Flow
3 articles · Updated · The National Desk · Jun 17
Summary
$4-a-gallon gasoline is back nationwide heading into summer, with traders reversing an earlier price drop after questioning whether the Iran deal will hold.
Strait of Hormuz shipping risk is central to that volatility, because any threat to oil flows could keep crude elevated instead of pulling it back down.
Steve Moore said pump prices were below $3.50 in some states just 4 or 5 months ago and argued inflation would ease if oil stays at $70 or lower.
Trump tied the push for peace to avoiding economic damage, while Moore said Republicans need gasoline below $3.50 before the midterms or voters may punish them.