"If the Strait of Hormuz remains closed, I'll be happy if they only stayed at $4 a gallon. Prices aren't likely to drop back fully down to pre-war prices until later this year, since seasonal factors will prevent a full drop back down."
"Before the war, the average daily commute cost for US employees had already climbed to $15 and about $5,750 annually - just to get to and from your desk."
"Now, with the price of gas rising, some people spend $18 to $19 a day on their commute and that's for those who drive an average car that gets 24.9 miles per gallon."
"An Owl Labs study found that hybrid workers save around $42 per day on the days they work from home compared to days in the office."
Gas prices have increased from $2.98 to over $4 a gallon, the highest since 2022, due to the US-Israel war with Iran. Iran has closed the Strait of Hormuz to oil shipments and threatened vessels attempting to pass. Analysts predict prices may rise further if the situation continues. Commuting costs have already escalated, averaging $15 daily and $5,750 annually, with some areas like San Francisco seeing costs as high as $12,650. Remote workers save significantly on commuting expenses, averaging $42 per day.
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