Customers use a gas station in Inglewood, Calif., on March 25, 2025. John Fredricks/The Epoch TimesWith the sudden escalation of conflict in Iran, Americans have been keeping a wary eye on the gas pump prices. Historically, there has been precedent for fuel prices to be subject to a “war premium”—a lasting price shock to the global oil market when certain Middle Eastern regions become volatile. Rising gas prices are already happening across the country.While the Iran conflict may feel a world away, its impact on your wallet can be immediate.
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