The ongoing wave of geopolitical tensions in the Middle East brought on by the U.S.-Iran war has done more than just rattle headlines. It has pushed energy markets higher, lifting oil and gasoline prices while adding fresh momentum to select pockets of the stock market. Even as hopes for a ceasefire emerge, economists caution that relief may not come quickly.
As seen in past cycles, fuel prices tend to spike fast and ease slowly, with supply chains taking months to fully stabilize. This lingering pressure is already showing up in inflation data, with the latest Consumer Price Index highlighting how sharply gasoline costs have weighed on household budgets.
