White House officials are bracing for oil prices to surge past the $150-a-barrel mark as the Iran war stretches into its second month and the Strait of Hormuz remains largely closed, according to a new report.

In recent weeks, the average cost of a barrel of crude has hovered around $100, a figure that the Trump administration now sees as the new “baseline,” though a potential spike to $200 hasn’t been ruled out, a source familiar with the matter told Politico.

As a result, officials have entered “all hands on deck” mode, urgently evaluating options to tame soaring oil prices — which pushed gas above $4 a gallon this week and risks inflating costs across the broader economy.

  • Treczoks@lemmy.world
    link
    fedilink
    arrow-up
    8
    ·
    10 hours ago

    The GOP already knows that they have lost the majority, so they try every trick in the book to keep non-republicans from voting. But with those gas prices, even hardcore country yokels who voted for anything with “REP” to it, dead or alive, might start thinking about this.

    • Fluffy Kitty Cat@slrpnk.net
      link
      fedilink
      English
      arrow-up
      2
      ·
      3 hours ago

      If you live in the city there’s probably a bus that runs nearby even if it sucks. If you live in rural Montana you probably try though F-150 over a dozen miles to the nearest grocery store