Justin Lahart,  Economics Reporter  -  The Wall Street JournalStephan: Actually, the price for a regular gallon of gas where I live is $5.99.9 = $6.00 a gallon. Filling our 20 gallon tank costs $120.00. Thankfully, we get good mileage and drive less than 50 miles a day. If you have to drive to work, or school, or take your kids somewhere, I don't know how you do it. All of this is due to psychopath Donald Trump, and his illegal war, and it could be months before the price comes down. And yet 34% of Americans still support him. Americans are pouring a lot more money into their gasoline tanks than they were even a week ago. The average price for a gallon of regular gasoline was $4.39 on Friday, according to AAA, a jump of 33 cents over where it was a week earlier. That is an unusually large move: The only times in recent years when gasoline prices have shot up like that over seven days were back in March, shortly after the Iran war began, and in March 2022, shortly after Russia invaded Ukraine. The U.S. is far more insulated than many parts of the world from the falloff in supplies from the Persian Gulf. But it isn’t immune to global supply shocks: Recent data shows U.S. gasoline inventories falling at a quick clip. With it looking unlikely that the Strait of Hormuz will reopen soon, and with the busy summer driving season fast approaching, supplies could tighten further in the weeks ahead. The 33-cent gain in the regular-gasoline price adds up. On a typical [...]Read the Full Article »

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