"If the Strait of Hormuz remains closed, I'll be happy if they only stayed at $4 a gallon. This situation is bound to impact budgets for commuters significantly."
"Prices aren't likely to drop back fully down to pre-war prices until later this year, since seasonal factors will prevent a full drop back down."
"Hybrid workers save around $42 per day on the days they work from home compared to days in the office, highlighting the financial benefits of remote work."
Gas prices have increased from $2.98 to over $4 a gallon, the highest since 2022, due to the US-Israel war with Iran. Iran has closed the Strait of Hormuz to oil shipments and threatened vessels attempting to pass. Analysts predict prices may rise further if the situation continues. Commuting costs have already escalated, with average daily expenses reaching $15, and some areas like San Francisco seeing costs as high as $35 a day. Remote workers save significantly on commuting costs compared to those working in the office.
Read at Moneywise
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