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.
The fact that gasoline has giant signs telling you how much it costs is very symbolic of America as a Petro state. Because of that one thing alone it’s the only products where every American can tell you exactly how much it costs, and specifically how much it costs in their area more so than nationwide. Because of credit cards most people couldn’t tell you the price of other Essentials off the top of their head like a gallon of milk or a loaf of bread but gasoline? It’s $5.50 at the station down the road
I paid $2.74 on the day the bombing started. It went up to $4.29 yesterday.
Most working Americans couldn’t tell you where the Dow is today, but every Sociopathic Oligarch knows it by the hour. But EVERY American knows the price of gas, and they’re super pissed about it.