"It's a lot. It's kind of outrageous. (It costs) $40 to fill my gas tank, now twice a week. Before it was just once a week and just $30 a week. But it's still a lot."
"Normalcy probably will take two, three months, I would say. It's the rocket and feather effects. So while going up, it shoots up and then coming down, it takes little time by the time it passes through the whole supply chain."
"Jet fuel prices, for example, have doubled since the start of the Iran war. Air Canada is limiting service from Toronto and Montreal because it's just not profitable for airlines to keep the same amount of planes in the air."
Iran's announcement to fully reopen the Strait of Hormuz has resulted in a more than 8% decrease in oil prices. In the Bay Area, gas prices have mostly fallen below $6 a gallon, although some areas like Sonoma County remain higher. The previous closure had inflated prices significantly. Experts predict that normalcy in pricing may take two to three months due to the supply chain effects. The impact of oil prices extends beyond fuel, affecting costs for groceries, deliveries, and travel.
Read at ABC7 San Francisco
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