The domestic impact of the conflict in Iran is visible on brightly lit neon signs outside tens of thousands of gas stations across the U.S. Average fuel prices are now $3.84 a gallon, up 31% from a month ago. And it might be a long time before drivers see gas below $3 a gallon again, despite recent statements from the Trump administration claiming otherwise.
Administration officials have framed spiking gasoline prices as short-lived pain that will resolve itself quickly. “Americans will feel it for a few more weeks,” Energy Secretary Chris Wright told NBC over the weekend, adding that he saw a “very good chance” that gas prices would dip below $3 a gallon come summer.
