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Will Americans really pay $500 more for gas this year? It depends. - Poynter

Poynter·Amy Sherman·6 months ago
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Democrats running for reelection this year say President Donald Trump’s actions are hurting Americans’ wallets, with gasoline prices soaring since the U.S. and Israel attacked Iran. “At a buck a gallon, every American driver is going to pay $500 more in gasoline prices at the pump this year,” Sen. Edward Markey, D-Mass.,  said  March 20 on CNN. Gasoline prices rose from an average national price under $3 a gallon before the Feb. 28 attack on Iran to almost $4 per gallon now, according to the  GasBuddy  gas price app. Markey’s prediction that every driver will pay $500 more this year depends on many factors. But one economic forecast projects that, if trends continue, average annual U.S. household spending on gasoline will increase by between $700 to more than $800 — even higher than what Markey said. The estimates are based on driver behavior remaining the same and gas prices rising and retreating, but not to pre-war prices. Markey faces a Sept. 1 Democratic primary challenge from U.S.…

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