Get used to higher gas prices this year

Higher gas prices are expected to persist this year due to ongoing tensions in the Strait of Hormuz and Iran conflict, with Energy Secretary Chris Wright predicting a return to pre-war levels (under $3/gallon) may not occur until 2027. Analysts from S&P Global and GasBuddy caution that logistical delays and inventory costs will slow price drops, even if the Strait reopens fully.