Oil Gas Prices Surge As Iran War Forces Gulf Producers To Cut Output 1021Dd1A
The Wall Street Journal5 hrs
US Gas Prices Surge as Hormuz Strait Blockade Halts Flow
Is Trump's warmongering recklessly crashing the economy or are these small, temporary price hikes necessary to bring lasting peace?
Above: A gas pump at a Sonic gas station in Tappan, N.Y., on March 5. Image credit: Kena Betancur/Bloomberg/Getty Images
The Spin
Anti-Trump narrative
Trump's reckless Iran war burns nearly $900 million daily in unbudgeted spending, while gas prices jumped 60 cents per gallon, and the economy shed 92,000 jobs. His promise to lower prices on day one was always a lie — presidents can't control commodity markets, and his incompetent warmongering proves he shouldn't run a McDonald's, let alone the country.
Pro-Trump narrative
Gas prices remain cheaper than under Biden despite the conflict in the Middle East, and temporary oil price increases are a very small cost for eliminating Iran's nuclear threat and securing lasting peace. Prices will drop rapidly once stability returns, making short-term market fluctuations irrelevant compared to protecting national security and global safety.