Gas May Hit $4 Today, Oil Rises Again Above $110
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Archived from the IMDb Discussion Forums — Economics, Business, Money, Finance
sheetsadam1 — 6 days ago(March 27, 2026 03:05 PM)
https://www.forbes.com/sites/siladityaray/2026/03/27/gas-may-hit-4-today-oil-rises-again-above-110/
Gas prices in the U.S. could exceed $4 per gallon Friday, while global crude oil rose above $110 a barrel as President Donald Trump delaying a strike on Iran’s power plants failed to calm oil price concerns.
The global benchmark Brent Crude index rose to $110.72 per barrel, up from around $107 when Trump announced the 10-day delay on the strike Thursday night.
Patrick De Haan, Gasbuddy’s Head of Petroleum Analysis, reported “with gas prices cycling and jumping yesterday a bit unexpectedly in some states, the national average is inching back close to $4/gal this morning,” adding that they had risen to $3.994 per gallon.
In a post on this Truth Social platform, Trump claimed he had agreed to an Iranian government request and extended his self-imposed deadline for carrying out strikes on Iran’s key power plants, unless it opened the strait, to allow more time for talks.
The deadline for Trump’s ultimatum was originally set to expire earlier this week, but the president extended it by five days on Monday, touting back-channel talks that Iran has since denied.
Like with Monday’s announcement, global crude prices briefly fell after Trump’s post, but the drop was a lot shallower than Monday (when it fell from around $113 to below $99), and they ticked back up a short while later.
Oil market analyst Rory Johnson tweeted that the lack of major price movement meant the oil market is “getting more numb to the nonsense.”
Trump said he was pausing “the period of Energy Plant destruction by 10 Days to Monday, April 6, 2026, at 8 P.M. Eastern Time.” He claimed talks with Iran were ongoing and “despite erroneous statements to the contrary by the Fake News Media, and others, they are going very well.” Iranian officials, including the country’s foreign minister, have this week denied claims of talks between the two sides and have even accused the president of engaging in market manipulation with his comments.
The continued rise in global crude prices comes as the Strait of Hormuz, the shipping lane used to carry around 20% of the world’s oil, remains blockaded by Iran. Reports suggest that Iran is operating a sort of “toll booth” that allows a select number of ships to pass through the critical lane, but the flow of traffic remains mostly stalled. On Thursday, Trump claimed Iran had agreed to allow 10 oil tankers to pass through the strait as a “present” to the U.S., although this has not been confirmed by Iran. On Friday, however, the Iranian Islamic Revolutionary Guard Corps announced it had forced at least three container ships that were attempting to cross the strait to turn back.
$3.978 per gallon. That is the current national average gas price on Friday morning, according to AAA’s fuel tracker. This is a 33% price increase compared to last month. Diesel prices have also continued to surge, hitting $5.380 per gallon on Friday morning. Diesel is used to fuel trucks, tractors, construction machinery, and other heavy vehicles, and a bump in its price is expected to drive up the prices of groceries, farm goods, shipping and several other items and services.
Draft Barron Trump -
WarrenPeace — 6 days ago(March 27, 2026 03:10 PM)
If he bombs the power plants that is going to keep the Strait closed even more so.
He has to offer a better incentive than that.
Such as to stop bombing at all period.
Even though Iran did not have any nukes I am pretty sure they have learned their lesson not to bother with building them by now.
"Please vote to preserve the unique character of Warren…" - Robert Duvall -
Uncreative — 5 days ago(March 27, 2026 03:28 PM)
You've got the lesson all wrong. Everyone is going to look at this and see that nukes are the only reason countries like North Korea or Pakistan are getting left alone while Venezuela and Iran and Ukraine, or Cuba next time Trump needs a distraction, get ****ed.
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WarrenPeace — 5 days ago(March 27, 2026 07:39 PM)
I realize that too and I wouldn't blame Iran for getting a nuke now.
I think it can go either way but whichever way it goes from here may not be good for someone.
The Doomsday Clock moves closer towards midnight every year when it should be going back.
"Please vote to preserve the unique character of Warren…" - Robert Duvall -
WarrenPeace — 5 days ago(March 27, 2026 07:42 PM)
Iranian officials
, including the country’s foreign minister, have this week denied claims of talks between the two sides and
have even accused the president of engaging in market manipulation with his comments.
They got his number!
"Please vote to preserve the unique character of Warren…" - Robert Duvall -
soapbox original gangster — 5 days ago(March 27, 2026 07:51 PM)
iran called out trump's claim that Iran had asked him to impose unilateral " pause" for 10 days on the power grid attacks, saying it did no such thing
it;s devolved to this: Iran is more truthful than Trump, at least on this
even worse: jet fuel now priced at $200 a barrel. airfares going up. time to test theory of supply and demand, and see if any impact on broader economy as people scale back flying