this post was submitted on 02 Apr 2026
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White House officials are bracing for oil prices to surge past the $150-a-barrel mark as the Iran war stretches into its second month and the Strait of Hormuz remains largely closed, according to a new report.

In recent weeks, the average cost of a barrel of crude has hovered around $100, a figure that the Trump administration now sees as the new “baseline,” though a potential spike to $200 hasn’t been ruled out, a source familiar with the matter told Politico.

As a result, officials have entered “all hands on deck” mode, urgently evaluating options to tame soaring oil prices — which pushed gas above $4 a gallon this week and risks inflating costs across the broader economy.

(page 3) 20 comments
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[–] tal@lemmy.today 19 points 20 hours ago (1 children)

On March 20, he fumed that NATO allies have refused to help secure the strait, but he later appeared unconcerned. “At a certain point it will open itself,” he said.

I'd say that that sounds promising for EV manufacturers.

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[–] Catoblepas@piefed.blahaj.zone 13 points 20 hours ago (2 children)

[laughs in public transit]

[–] FaceDeer@fedia.io 16 points 19 hours ago (1 children)

Do you sometimes find yourself needing to buy things? Those need to be shipped to the places where you buy them. And the parts they're made of need to be shipped to the places where they're manufactured. You pay for all that when you buy them.

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[–] MyOpinion@lemmy.today 7 points 20 hours ago

Trump in general is a nightmare.

[–] Danarchy@lemmy.nz 2 points 16 hours ago

The preparations are who to blame, how to grift, and not a single thing to help anybody else in any conceivable way

[–] minorkeys@lemmy.world 3 points 18 hours ago

Yeah, preparing to be even bigger assholes to hold onto power and avoid accountability.

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