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.
Per an adjacent discussion on NPR, California is considered a “petrol-island”. Conventional shipping over land is both difficult and inefficient because they’re tucked on the other side of a mountain chain. Coming from Texas, willing or not, seems to have it’s own additional expense.
Difficult sure. Would you prefer that it is impossible to fly to California, difficult? Shouldn’t be. Cost of Jet fuel from GCC would make the difficult trip from Texas profitable.