More than three months after President Donald Trump ordered airstrikes on Iran, the economic fallout continues to hammer American households, with experts warning that the impact on fuel prices will persist for years. The conflict, which began on February 28, 2026, with a bombing campaign that failed to secure the Strait of Hormuz, has led to a dramatic spike in crude oil prices, driving up costs for gasoline, diesel, jet fuel, and shipped goods across the United States.
According to GasBuddy petroleum analyst Patrick De Haan, the path to normalizing fuel prices will be "a very long, multi-month to multi-year process." He told CBS News that pre-war prices are unlikely to return until "mid-to-late 2027." University of Houston energy economist Ed Hirs echoed this sentiment, stating that even if peace were achieved immediately, it would take about eight months to restore production and throughput through the Strait. The International Energy Agency's executive director, Fatih Birol, has warned that repairing damaged facilities could take up to two years, while QatarEnergy estimates that repairs from Iranian missile strikes might require five years.
A trail of misleading statements from the Trump administration has characterized the crisis. On March 8, Energy Secretary Chris Wright assured Americans that elevated energy prices would last only "weeks, not months," a claim that now appears false.
By June 9, Wright admitted that recovery would take "many months." Earlier, on March 12, Trump posted on social media that "when oil prices go up, we make a lot of money," suggesting that higher prices benefit his administration's donors at the expense of families.
The administration's attempts to mitigate the crisis, such as reopening the Sable Pipeline in Santa Barbara, California, have been criticized as inadequate. Wright boasted that the pipeline increased California's oil production by 20%, but experts note that this represents only 0.05% of total U.S.
production and has negligible impact on global prices. On June 5, Wright admitted that lowering pump prices "will ultimately take a resolution with Iran to get more oil flowing through the Strait of Hormuz."
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Meanwhile, California continues to demonstrate leadership in clean energy. The state ran on 100% clean electricity for part of every day almost every day last year and now holds 33% of the storage capacity the U.S.
will need by 2045 to achieve full clean electricity. This stands in stark contrast to the Trump administration's reliance on fossil fuels and military action.
As of June 15, the national average gas price remains 40% higher than before the war. Trump has expressed satisfaction with the situation, stating on June 11, "I love it.
The numbers were great. I love the inflation." For residents of Santa Barbara and across the nation, the cost of this conflict is a daily burden that shows no signs of easing.