United States

Why US-Iran tension won’t spoil summer jaunts

If you don’t think the oil and gasoline industry has changed dramatically, consider this. Tensions in the Middle East have risen sharply in recent months to a point where the US and Iran are continually threatening each other. Iran shoots down a US drone. The US threatens to attack and to impose more sanctions on the Middle East nation. War seems a possibility. And more recently, Israel said it is preparing for a “military conflagration” with Iran if the battle of words with the US turns physical. As the situation escalates, that whole region of the world is on edge. All of this is happening at a time when America is celebrating the Fourth of July holiday weekend, when gasoline consumption increases substantially — a jump tha ...