https://www.reuters.com/business/energy/us-pump-prices-stay-elevated-despite-us-iran-ceasefire-deal-market-observers-say-2026-04-08/NEW YORK, April 8 (Reuters) - U.S. consumers will continue to pay high prices to fill up their vehicles or purchase airplane tickets through the peak summer travel season, several market experts said on Wednesday, even as wholesale fuel prices cooled after President Donald Trump announced a two-week ceasefire in the U.S.-Israeli war on Iran.High fuel prices resulting from Iran's blockade of the Strait of Hormuz have become a major issue for Trump and his Republican Party as they campaign to maintain control of the U.S. Congress in November's midterm elections.The war has sent gasoline and diesel prices to their highest levels in years, and the economic pain has pushed approval ratings of Trump to the lowest since his return to the White House.After Trump announced a two-week ceasefire deal on Tuesday, U.S. crude oil futures fell nearly $20, and U.S. gasoline and diesel futures also fell sharply, as traders bet on a potential reopening of the Strait of Hormuz.But falling crude futures probably will not bring quick relief for consumers at the pumps, experts said, noting that cracks had already begun to appear in the fragile truce. The Strait of Hormuz remained shut on Wednesday after Israel launched its biggest attacks yet on Lebanon. Iran also hit a pipeline that Saudi Arabia has been relying on to bypass the Hormuz."There's so much uncertainty still around what this ceasefire means, and when and how fuel starts to flow through the Strait of Hormuz again, retailers are not going to drop prices sharply in the face of those unknowns," said Shon Hiatt, director of the Zage Business of Energy Initiative at the USC Marshall School of Business.
Regardless of whether the ceasefire holds, insurance costs will be higher than they were before the war and ships will be hesitant to cross the waterway, said Alex Hodes, director of energy market strategy at StoneX."Markets still will be elevated throughout the rest of the year with an elevated geopolitical risk premium," Hodes said.Hodes and Hiatt said diesel and jet fuel markets in particular will remain on edge, as supply of those fuels has been tighter than other refined products.The Middle East is a key supplier of those fuels and also of the crude oil grades that have the highest yield of those products in refining.U.S. average retail diesel prices continued to climb on Wednesday despite the ceasefire deal, hitting $5.67 a gallon, the highest since July 2022 and nearly 60% more than last year.U.S. gasoline futures were down about 9% in intraday trading, with diesel futures down over 14%. Both remained about a dollar higher than pre-war levels. Gasoline futures were trading at $3.01 a gallon, and diesel futures were at $3.83 a gallon."That remaining risk premium is a reminder that the vast majority of vessels still aren't transiting the strait of Hormuz as the cease fire plans still need to trickle down to the folks launching the attacks," U.S. fuel distributor TACenergy's trading desk wrote.
>>1504639There was no ceasefire. It was only in Trump's orange head.
>>1504646Technically there was. Just like with Palestine, it lasted all of about 20 minutes before Israel started bombing again.
Trump already admitted US oil will continue to price gouge.prices will never go down, at least until the election when they try to manipulate things to help republicans like they always do
>>1504666Satanic numbered Anon, high oil prices mean a strong US petrodollar. This wealth will trickle down into the mouths of the black welfare recipients as golden food stamps.
>>1504639Still better than under Biden.Trump's going to have to fuck up 10x as much to even match Biden levels, and even if he fucks up 11x more and exceeds Biden levels of fucking up, I will still never vote for another stinking Democrat ever again.Not until they find out how taxes work and quit raising them.
>>1504691trump made sure the petro dollar is dead.
>>1504865The difference is; this increase is permanent. Even if it doesn't hit Biden's highs, we will never return to Biden or Trump's lows.
>>1504958And this is just US oil price gouging too. So this is a permanent trump tax hike
>>1504865You should figure out how taxes work first, and then maybe give some of this outrage to the corporate welfare queens that deserve it. >>1504955Good by petrol dollar, hello pedo dollar!>>1504958Biden's lows, considering they started climbing almost immediately after he was out of office.
>>1504958Why would I ever listen to a liggeral?
>>1505002>You should figure out how taxes work first, and then maybe give some of this outrage to the corporate welfare queens that deserve it.So, you know, but you're blaming the benefactors?Interesting tactic.
>>1505008>So, you know, but you're blaming the benefactors?You wanna try that one again?
>>1505009Sure>then maybe give some of this outrage to the corporate welfare queens that deserve it.>the corporate welfare queens that deserve itTried again, same result.>NOT MUH FAGOCRATS>NUT MUG OBOMABA>It's corpration!!!
And Trumpflation is Baaaaaackhttps://www.huffpost.com/entry/consumer-prices-march_n_69d8f03de4b0ccb589ec62a6
>>1505010>Ha, you're a moron for blaming the corporations they keep lowering taxes on for raising taxes on us. I'm a genuine for blaming democrats who want to tax them to fund social services, and fags because I'm so obsessed with them I can't go two seconds without imagining hot cum pumping down my throat.
>>1505040Dude, have we been over this? Do you know about ACA? If so, are you retarded?
>>1505040And not just ACA, but tariffs?If you're retarded that's fine, but if I've just been talking to retards with faggot-brains unable to comprehend anything more than "gibs me dat" I don't even know what to do.Civil war is starting to seem more rational.
>>1505186>>1505184You mean a class war.Fully nationalize health care and energy. No more hand outs to corporations.
