Most in new poll expect gas prices to keep rising

Nearly six in 10 U.S. adults expect gas prices to rise over the next year, highlighting energy-market volatility amid the Iran conflict, according to a Reuters/Ipsos poll released Monday. The survey of 4,531 adults found 59% forecast higher gasoline costs in the coming 12 months, while 17% expected lower prices, 13% saw little change, and 11% were unsure. Democrats and independents leaned toward higher prices, with more than eight in ten Democrats and over six in ten independents forecasting increases, compared with about one-third of Republicans who shared that view.

Negotiations over the Middle East remain fragile, with Hormuz almost closed and markets watching for changes of prices. As of Tuesday, the national average for a gallon of regular gasoline was over $4.16, and diesel near $5.32, per AAA. Hormuzstraitmonitor.com reported about 10 ships transiting the strait in the last 24 hours, much less than the usual pace of around 60. The analyst Patrick De Haan warned that further deterioration could push prices higher, while President Trump said talks with Iran were 'going well' and could bring an agreement in days.