High oil and gasoline prices and energy supply problems won't be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday.
President Trump said on Monday that he would like to temporarily suspend the federal gas tax as prices soar due to the war in Iran.
The average price for a gallon of regular unleaded gas across the country jumped to $4.54 on Wednesday.
U.S. stocks are falling from their record heights, while oil prices jump following escalations in the Middle East that may be undermining the ceasefire in the war with Iran.
Oil briefly surpassed $126 a barrel Thursday, its highest price in four years, as some traders worried about an escalation in the US-Iran war.