"Over the past month, US households paid $8.4 billion more for gasoline compared to prices before the war on Iran began, according to a report by Democrats on Congress' Joint Economic Committee."
"Oil prices will remain elevated at least through the end of the year even if the conflict is fully resolved by the end of April, the US Energy Information Administration said in a short-term outlook Tuesday."
"Iran has made clear it intends to maintain control over the passageway for 20 percent of the world's oil and liquefied natural gas (LNG)."
Despite being the world's largest oil and gas producer, the US has not escaped rising gasoline prices, which have surpassed $4 per gallon. Households incurred an additional $8.4 billion in gasoline costs since the onset of conflict with Iran. The Strait of Hormuz remains a critical passage for oil, with Iran asserting control. The US Energy Information Administration predicts elevated oil prices through the end of the year, regardless of conflict resolution. Energy infrastructure, particularly in Qatar, faces long-term damage from missile strikes, impacting global energy supply.
Read at Ars Technica
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