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riversedge

(81,139 posts) Sun Apr 12, 2026, 12:24 PM Apr 12

'Gas prices averaged $4.15 a gallon nationwide Friday, up from $2.98 on the day before - Trumps Iran war began, accordi

And for sure----prices are and will continue to rise.

Gas prices averaged $4.15 a gallon nationwide Friday, up from $2.98 on the day before - Trumps Iran war began, according to motor club AAA.

https://www.pbs.org/newshour/amp/economy/soaring-gas-prices-leads-to-

Soaring gas prices leads to biggest monthly inflation spike in four years in March
By — Christopher Rugaber, Associated Press
Economy Apr 10, 2026 9:55 AM EDT

WASHINGTON (AP) — The largest monthly jump in gas prices in six decades caused a sharp spike in inflation in March, creating major challenges for the inflation-fighters at the Federal Reserve and heightening the political challenges of rising costs for the White House.

READ MORE: Top Fed official sees potential rate hike amid higher gas prices, inflation concerns

Consumer prices rose 3.3% in March from a year earlier, the Labor Department said Friday, up sharply from just 2.4% in February and the biggest yearly increase since May 2024. On a monthly basis, prices rose 0.9% in March from February, the largest such increase in nearly four years.

It's the first read on inflation to capture the effects of the Iran war.

..............

The gas price shock stemming from the Iran war has shifted inflation's trajectory, from a slow, gradual decline to a sharp increase further away from the Fed's 2% target. As a result, the central bank will almost certainly postpone any cut in interest rates for months and many Fed officials have said a rate hike may be needed if inflation doesn't cool. Gas prices are also a highly visible cost that has outsize impacts on consumer confidence and political sentiment............

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'Gas prices averaged $4.15 a gallon nationwide Friday, up from $2.98 on the day before - Trumps Iran war began, accordi (Original Post) riversedge Apr 12 OP

A Mere 39% ProfessorGAC Apr 12 #1

MaddowBlog-White House starts preparing the public for persistently high gas prices LetMyPeopleVote Tuesday #2

ProfessorGAC

(76,977 posts)

1. A Mere 39%

Reply to riversedge (Original post)

Sun Apr 12, 2026, 01:43 PM

Apr 12

For the exact same return in goods.
But, since a handful of investors will make a ton of money, everyone should be happy about it.
Odd logic he employs.

LetMyPeopleVote

(180,658 posts)

2. MaddowBlog-White House starts preparing the public for persistently high gas prices

Reply to riversedge (Original post)

Tue Apr 14, 2026, 06:56 PM

Tuesday

Consumers hoping for a break at the pump are getting signals from Team Trump: It’s probably best to start lowering expectations.

Link to tweet

https://www.ms.now/rachel-maddow-show/maddowblog/white-house-starts-preparing-the-public-for-prolonged-high-gas-prices

Now the White House is taking subtle steps to prepare the public for gas prices that will be high for a prolonged period. The New York Times reported:

President Trump suggested on Sunday that elevated gasoline prices in the United States might not fall before the November midterm elections, a prediction that continued his mixed messaging and underscored potential political headwinds facing Republicans in the fall.

Mr. Trump had long downplayed a sharp spike in gas prices driven by the war in Iran by casting it as a ‘short-term increase’ that would subside within weeks. But on Sunday, Mr. Trump told Fox News that while he hoped gas and oil costs would drop before the midterms, prices ‘should be around the same’ in November — and might be ‘a little bit higher.’

In context, Fox’s Maria Bartiromo specifically asked the president whether he believes his policies will lower prices. After a long and meandering response that made little effort to answer the question, the host tried again: “Do you believe the price of oil and gas will be lower before the midterm elections?”

BARTIROMO: Do you believe the price of oil and gas will be lower before the midterm elections?

TRUMP: I hope so. I mean, I think so. It could be the same or maybe a little big higher

(Check out Maria's face as he says this!)
— Aaron Rupar (@atrupar.com) 2026-04-12T14:35:55.025Z

A day later, Energy Secretary Chris Wright, who had previously told the public to expect a price drop by the summer, switched gears and said at the Semafor World Economy summit that consumers shouldn’t expect a break anytime soon.

“The president knew going into this that if you disrupt the flow of energy through [the Strait of Hormuz], in the short term, you’re going to push up energy prices,” Wright said.

Of course, if Trump did know that, he neglected to share those expectations with the public.

Democratic National Committee Chair Ken Martin said in a written statement that if White House’s midterm pitch to Americans is “higher gas prices by Election Day, Republicans are in big, big trouble.”

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