U.S. Gas Could Hit $4 a Gallon as Trump Ends Iran Ceasefire
Updated
Updated · CNBC · Jul 8
U.S. Gas Could Hit $4 a Gallon as Trump Ends Iran Ceasefire
3 articles · Updated · CNBC · Jul 8
Summary
$3.80 national average gasoline prices could climb toward $4 a gallon in coming days after Trump said the U.S. ceasefire with Iran was over and hinted at more strikes.
Patrick De Haan of GasBuddy said renewed tensions are already putting upward pressure on oil prices, threatening to reverse the recent pullback from this year's $4.56-a-gallon peak in May.
At that May peak, the average driver was on track to spend about $70 more a month on gasoline than before the Iran war began on Feb. 28, according to Richmond Fed calculations.
Financial planners say drivers should reset monthly budgets if fuel rises again, trimming subscriptions and restaurant spending first while using price-comparison apps, loyalty programs and fewer trips to cut costs.