By admin 
(The Hill) – GasBuddy’s head of petroleum analysis Patrick De Haan on Wednesday said there could be a jump in gas prices next week if the U.S. and Iran do not reach a deal to reopen the Strait of Hormuz.
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De Haan wrote on the social platform X that as stations sell through their fuel, oil prices could lower during Memorial Day weekend, “barring a sudden shift in the Iran situation” and providing some relief “that could be somewhat quick.”
“Trump says Iran talks in final stages, pushing oil, gasoline, diesel and jet fuel prices to plummet,” he wrote in a separate X post. “But if this is another hope that doesn’t translate into a reopening of the strait, prices will likely surge again next week.”
A record number of travelers — 3.91 million — are expected to hit the road for the holiday weekend, with what is expected to be the highest national average for gas on Memorial Day weekend in four years, according to AAA. The average, at $4.56, is 3 cents over last week and $1.38 higher than Memorial Day weekend last year.
The conflict in Iran has wreaked havoc on global energy markets, causing inflation and energy prices to spike in the U.S.
De Haan told Reuters that the Strait of Hormuz closure is at the center of “the most volatile summer at the pump in years.” He told the outlet that Americans will pay billions more to travel to their destinations this summer, even if the strait reopens. Prices might not recover for another year or longer, he said.
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President Trump said Tuesday that he hoped to end the conflict with Iran “very quickly,” but has since suggested there is no rush despite his warnings against Tehran that the “clock is ticking” to reach a deal after he has rejected several proposals.
“I’m in no hurry,” Trump told reporters at Joint Base Andrews in Maryland on Wednesday. “Everyone is saying, ‘The midterms, I’m in a hurry.’ I’m in no hurry. Ideally, I’d like to see few people killed as opposed to a lot. We could do it either way.”
The president earlier this week said he was set to attack Iran but held off following a request from the leaders of Qatar, Saudi Arabia and the United Arab Emirates.
Lawmakers on Capitol Hill have made several attempts to end the conflict and bring U.S. forces deployed against Iran home.
Sen. Bill Cassidy (R-La.), fresh from losing his bid for a third term in Saturday’s Louisiana Senate Republican primary, on Tuesday joined three other Senate Republicans in backing a motion to discharge the war powers resolution to direct Trump to withdraw U.S. forces from Iran. The 50-47 vote set up a future vote to proceed to the motion on the Senate floor.
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