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U.S. gasoline prices hit $4 per gallon in March 2026, the highest level since August 2022. Analysts warn that if the Iran conflict persists through the summer, crude could surge to $200 a barrel, pushing pump prices toward $7 per gallon. The piece links today’s price spike to a centuries‑long history of oil’s strategic importance, from natural fires in Baku to World War II and modern Middle‑East wars. It also highlights Costa Rica’s near‑total renewable electricity as a contrast to global oil dependence.
President Donald Trump used Truth Social to declare an end to the Iran war, prompting stock futures to rebound and oil prices to tumble before Iran’s foreign ministry denied any cease‑fire. Simultaneously, the administration sent ICE agents to thirteen airports,...
Israel’s recent strikes on Iranian fuel depots ignited massive fires, creating toxic black rain over Tehran and effectively shutting the Strait of Hormuz. The disruption has taken three times the 1970s‑era oil supply offline, prompting Deutsche Bank to project oil...
