Speaker A
But we begin with the war in Iran tonight with President Trump is now saying tonight as gas prices here in the US.
US gas prices hit record highs amid ongoing Iran war, straining budgets and raising costs for consumers and businesses nationwide.
Key Takeaways
- The Iran war is a major driver of the current spike in US gas prices.
- High fuel costs are impacting both consumers and businesses, leading to increased prices for goods and services.
- Price relief is unlikely to be immediate even if the conflict ends soon.
- Regional disparities exist, with some states facing much higher prices than others.
- Public frustration is growing, evidenced by protests and long waits for affordable gas.
Summary
- US gas prices have reached an average of $4.40 per gallon, the highest in four years since the war in Iran began.
- Prices have surged by $1.46 since the conflict started, with some states like California seeing prices as high as $6 per gallon.
- The Great Lakes region is experiencing the fastest price increases, impacting daily travel and family visits.
- Drivers are protesting high prices, and many are waiting in long lines to find cheaper gas options.
- Diesel prices have risen nearly $2 per gallon, increasing costs for freight and food deliveries.
- Small business owners, such as grocery store co-owners, are forced to raise prices due to higher fuel surcharges.
- President Trump claims gas prices will drop sharply once the war ends and Iran does not acquire nuclear weapons.
- Analysts caution that even if the conflict ends immediately, it could take up to a year for prices to return to pre-war levels.
- The price surge comes at a challenging time as consumers prepare for the summer travel season.
- The rising fuel costs are forcing difficult budget decisions for many American families.
Full Transcript — Download SRT & Markdown
Speaker A
Hit a new high since this war began, now 440 a gallon even higher in some parts of the country.
Speaker B
Tonight, the cost of the war with Iran surging fast and straining the budgets of American families and businesses.
Speaker B
Drivers are now paying an average of $4.40 a gallon, up 35 cents in just the last week and a dollar 46 cents since the start of the war, the highest price in four years.
Speaker C
Having to choose between gas and food and that's a very hard decision.
Speaker B
President Trump today asked about gas prices.
Speaker D
The average price of a gallon of gas is now $4.30 in this country.
Speaker E
And you know what, and we're not going to have a nuclear weapon in the hands of Iran, the gas will go down as soon as the war's over, it'll drop like a rock.
Speaker B
But tonight, gas prices are climbing in every state.
Speaker B
Surging fastest in the Great Lakes, Illinois, Ohio, Wisconsin, and Michigan.
Speaker B
These drivers protesting outside Detroit.
Speaker F
I have family members who are ill and I can't go visit them across the state or up north.
Speaker F
Because it's too expensive right now to drive.
Speaker G
It couldn't come at a worse time for consumers.
Speaker G
Who are gearing up for the summer travel season.
Speaker B
The nation's highest prices in California.
Speaker B
Where gas now averages $6 a gallon.
Speaker B
Even more at some stations.
Speaker H
It's kind of shocking at this point how much we're paying for this.
Speaker B
Our Jaclyn Lee is in Los Angeles outside a Costco gas station.
Speaker I
Drivers here are on the hunt for the cheapest gas.
Speaker I
Willing to wait in long lines like these to save money.
Speaker B
The cost of diesel, which powers trucks and tractors carrying goods across the country.
Speaker B
Is up by almost $2 a gallon.
Speaker B
Jessica Woods co-owns a grocery store in Washington D.C.
Speaker B
She says fuel surcharges on her food deliveries have more than doubled, forcing her to raise prices.
Speaker J
How hard is that decision for you to say, we just, we're going to have to pass down the costs to shoppers?
Speaker K
Incredibly hard.
Speaker K
But ultimately, if we're going to keep the lights on, we do have to charge as much as we pay.
Speaker J
It's just math.
Speaker K
Yeah, exactly.
Speaker L
David, the president says gas prices will drop like a rock, but even if the straight reopens tomorrow.
Speaker L
Analysts say it could take a year for gas to get back to its pre-war levels.
Speaker L
David.
Topics:US gas pricesIran warfuel costsgasoline pricesdiesel pricessummer travelinflationconsumer impactPresident Trumpprotests
