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U.S.-Iran War Spurs Rising Gas Prices, Economic Turmoil

3/6/2026

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Story summary
  • The U.S. war with Iran is affecting the economy by driving up gas prices and mortgage rates.
  • Gas prices have risen to about $3.25 per gallon, prompting the White House to consider a gasoline tax holiday.
  • The war is disrupting global supply chains, affecting shipping routes and air cargo.
  • U.S. President Donald Trump maintains that prices will eventually drop.