Iran War Sparks Surge in Gasoline Prices
Prices increased 50% since Iran War began.
Trump administration blocked Iranian oil exports, raising prices.
Strait of Hormuz closure disrupted 20% of global crude oil supply.
Global supply shortfall pushes prices upward.
Crude oil accounts for 51% of gasoline costs.
Oil markets react strongly to White House decisions.
Traders respond to Persian Gulf diplomacy or shipping threats.
Risk premium will persist for months after conflict ends.
2 weeks ago