Has Trump outsmarted everybody?

[Nancy Hart]

Things are definitely in flux right now. Gas here has gone up since Iran. Why is that? We have enough natural gas and oil in our own country. Trump did not cause it. I think the propaganda news caused it. Will it go back down after Iran and if not, why not?

Supply and demand. The Iran war caused it because Iran blocked the Strait of Hormuz in retaliation for the bombing from the US and Israel. Countries across the world that can afford it are willing to pay more because they are suffering more than we are. Some countries had reserves, but those will run out eventually.

The Price of oil (and therefore gasoline) is mostly set globally. While I suppose US oil drilling companies could theoretically sell cheaper to US refineries (out of the kindness of their hearts ), they are more likely to sell to the higher bid.

Yes, the price of gas will go back down after shipping through the Strait resumes, but it won't be instantly. It takes a while to get everything back up to speed---pumping, shipping time and refining.