The ceasefire between Iran and the U.S. has been so on-again, off-again that it’s honestly giving me PTSD from my last relationship. Thanks to President Donald Trump’s inability to negotiate a meaningful deal, the average price of gas has once again increased to $4.
AP reports that data from AAA finds that the national average price for a gallon of gas is hovering around $4. While some areas are paying less than that and others are paying more, it’s still a noticeable increase from this time last year when the average price was around $3.18.
Gas prices shot up almost as soon as President Donald Trump decided to start an unnecessary war with Iran in late February. The average price of gas hovered around $4 since the end of March, with prices getting as high as $4.99 a gallon in my home state of Arizona.
There appeared to be some relief last month as Iran and the U.S. reached an interim ceasefire last month that reopened the Strait of Hormuz. According to NBC News, gas prices began to drop throughout the country, averaging around $3.79. I ain’t gonna lie, I’ve mostly been checked out on Iran since the last ceasefire was announced because, well, *points at the diarrhea lettuce, attempts to steal the midterms, the curious case of Mitch McConnell’s health.* I knew the ceasefire wasn’t going well when I saw gas go from $3.99 to $4.19 within the span of two days.
From NBC News:
On Friday, oil prices posted their second straight weekly gain. Last week alone, U.S. crude oil and international Brent crude oil both rose more than 15%. Over the last two weeks, prices have risen more than 20%.
Oil prices began rising again after the U.S. revoked a sanctions waiver on Iranian oil July 7. One day later, President Donald Trump announced that the ceasefire with Iran was “over.”
Days later, oil prices climbed after Trump announced that he was “reinstating the Iranian blockade” in the Strait of Hormuz. That blockade is “against vessels transiting to or from Iranian ports and coastal areas,” the U.S. military said.
Trump also said last week that the U.S. would seek to be “reimbursed, at the rate of 20% on all cargo shipped.” Shipping companies and international maritime organizations quickly rejected the idea as a violation of international law.
Affordability is a major issue for Americans of all walks of life. Trump campaigned on bringing prices down, yet since taking office he’s repeatedly made moves that have only exacerbated the cost-of-living crisis. The war in Iran has not just been a geopolitical flustercluck but also a drag on the domestic economy. It’s caused interest rates to rise, which has impacted people’s ability to receive home loans. Not to mention the war has increased the cost of goods and groceries. This really isn’t great at a time when more and more Americans are taking on credit card debt to put food on the table.
Trump has already said he doesn’t think about how his handling of Iran impacts the finances of the average American, so I don’t think he’s terribly concerned about this latest price increase. When the GOP inevitably loses in the midterms, I can’t wait to hear Trump blame it on voter fraud and not, you know, his complete inability to do anything that actually benefits the country.
SEE ALSO:
The National Average Gas Price Is Finally Dipping Below $4
Gas Prices Over $4/Gal. In All 50 States. Trump Says It’s ‘Peanuts’
