Black-gold blues: How long will we be paying wartime gas prices once peace deal is sealed?

(Image by ElasticComputeFarm from Pixabay)

Gas prices are unlikely to return to pre-war levels anytime soon, even if a U.S.-Iran peace deal reopens the Strait of Hormuz, leaving Americans facing higher pump prices for months.

The average price of gasoline in the United States was $4.54 per gallon on Wednesday, a significant increase from the sub-$3 prices seen before the start of the Iran War, according to data released by the American Automobile Association (AAA).

“The next third might take 3-6 months...