Tag: Gas Prices

Iran War, Week Seven

Arch d’Trump is GO – The Commission on Fine Arts, hand-picked by the White House, Thursday unanimously approved the president’s massive triumphal arch in Washington near Arlington National Cemetery, Politico reports.

FRIDAY 4/17/26

UPDATE: The Strait of Hormuz is “fully open” to all commercial vessels according to a Truth Social post by President Trump and an X-Twitter post by Iran Foreign Minister Abbas Araghachi, The Associated Press reports Friday.

But… About 12 minutes following the above posts, Trump Truth Socialed that the US blockade of Iranian ports remains UNTIL SUCH TIME AS OUR TRANSACTION WITH IRAN IS 100% COMPLETE. …

THIS PROCESS SHOULD GO VERY QUICKLY IN THAT MOST OF THE POINTS ARE ALREADY NEGOTIATED.

Meanwhile … New York Stock Market futures indicate a record day ahead as crude oil prices drop 10%, AP reports.

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Ceasefire Upon Ceasefire – Israel’s 10-day ceasefire on Lebanon announced Thursday appears to be holding, NPR’s Morning Edition reports, as thousands of families displaced from Southern Lebanon by the fighting between Israel and Hezbollah are returning to their homes, according to The New York Times. The two-week truce between the US and Iran due to end next week extends to Lebanon, Tehran said, building hopes the new ceasefire could remove a major hurdle to ending the war. 

Meanwhile, President Trump says he could attend peace talks soon with Iran in Islamabad, Pakistan.

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Holy War – In his press conference Thursday, war/Defense Secretary Pete Hegseth compared “the legacy, Trump-hating press” (and not others, presumably MAGA-right bloggers and influencers) with the pharisees who persecuted Jesus. 

Hegseth, who frequently quotes scriptures, earlier at a Pentagon prayer service repeated word-for-word Samuel L. Jackson’s Jules Winnfield-interpretation of Ezekiel 27:17 in Quentin Tarantino’s Pulp Fiction. 

On NPR’s Morning Edition former Republican congressman and Obama administration Defense Secretary Leon Panetta told A Martinez that we all have religious beliefs, but a Defense secretary should not impose his beliefs on young soldiers.

“It confuses the mission by introducing that element,” Panetta said. 

Hegseth’s mission, in other words, seems to be Christian Nationalism v. Islamic Republic.

On the blockades … Panetta also told Martinez “there was no question,” his Defense Department and others pre-Trump planned for enemy closure of the Strait of Hormuz. “That was all in the plan for war with Iran,” he said.

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AAA National Average Unleaded Regular, Friday: $4.076 per gallon, down 3.2 cents from Thursday, up $1.079 over February 26. Diesel: $5.593 per gallon, down 2.1 cents from Thursday, up $2.331 over February 27. --TL

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THURSDAY 4/16/26

UPDATE: Lebanon, Israel Agree to Ceasefire – Lebanese and Israeli diplomats have agreed to a 10-day ceasefire after meeting in Washington earlier this week, The Hill reports. President Trump Truth Socialed Thursday he had an “excellent conversation” on the phone with Israeli Prime Minister Benjamin Netanyahu and Lebanese President Joseph Aoun and has invited him to Washington to work out a permanent peace deal.

Hegseth Warns Iran Again – Iran should “choose wisely” or face US military “maximally postponed” to resume attacks, war/Defense Secretary Pete Hegseth said in a Pentagon briefing Thursday, The Wall Street Journal reports. Hegseth told reporters the US blockade will continue as long as necessary, and Chairman of the Joint Chiefs of Staff General Dan Caine said US military will “actively pursue” dark-fleet vessels aiding Iran, even those outside the Persian Gulf. 

Ships sanctioned by the US already are subject to boarding, search and seizure according to United States Naval Forces Central Command, though up to now only those ships entering or exiting Iranian ports.

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Trump Threatens Powell Again – President Trump threatened to fire “incompetent” Federal Reserve Chairman Jerome Powell – whom he nominated during his first term – in an exclusive interview Wednesday with Fox Business Mornings With Maria host Maria Bartiromo. Powell says he will remain Fed chairman past May if Trump’s nominee to succeed him, Kevin Walsh, is not confirmed by the Senate in time. What’s more, Powell’s seat on the Fed board runs to 2028. 

Sen. Thom Tillis (R-NC) says he will “oppose the confirmation of any Federal Reserve nominee, including for the position of chairman, until the DOJ’s inquiry into Chairman Powell is truly and transparently resolved.”

The president plans to advise US Attorney for the District of Columbia Jeanine Pirro (who is actively campaigning for the attorney general seat vacated by Trump's firing of Pam Bondi) to end the investigation of Powell regarding spending for Fed headquarters renovations “that I would have done for $25 million that’s going to cost maybe $4 billion. Don’t you think we have to find out what happened here?”

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Another War Powers Resolution Blocked – The Senate blocked Democrats’ fourth effort to impose a war powers resolution on the Trump administration’s incursion into Iran Wednesday by 47-52 vote, largely along party lines, CQ Roll Call reports. The vote killed a Foreign Relations Committee resolution by Sen. Tammy Duckworth (D-IL) that would direct President Trump to “remove the United States Armed Forces from hostilities within or against Iran, unless explicitly authorized by a declaration of war or a specific authorization for use of military force.”

As in the earlier resolutions, the two crossover votes were Sens. Rand Paul (R-KY) and John Fetterman (D-PA). Earlier this week, Democrats filed seven more war powers resolutions to force Republican senators on the record in coming weeks. 

Unless more Republicans cross over in the coming weeks the Trump administration has to May 1 before the 1973 War Powers Resolution kicks in, Roll Call notes, in which the president must withdraw forces from military conflicts in 60 days if Congress has failed to authorize the war. This can be extended to 90 days – so, to June 1 – to safely withdraw US military forces.

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AAA National Average Unleaded Regular, Thursday: $4.108 per gallon, down 1.5 cents from Wednesday, up $1.111 over February 26. Diesel: $5.614 per gallon, down 2.1 cents from Wednesday, up $2.352 over February 27. --TL

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WEDNESDAY 4/15/26

Latest Mixed Messages on Iran War – There is a “high chance” Tehran will host a delegation of Pakistani mediators Wednesday in indirect talks with the US, spokesman for Iran’s foreign ministry Esmail Baghei told a news conference in Tehran, The New York Times reports. 

“Following the discussions that took place in Islamabad, as well as the talks the Pakistani side has had with the United States, our views have been conveyed, heard,” Baghei said. 

Meanwhile on Fox Business’ Mornings With Maria Bartiromo, President Trump said the end of the war may be near, but not because of diplomacy. 

“I think it’s over. I think it’s very close to being over,” Trump told Bartiromo, a refrain he has been repeating for weeks. “I don’t know how much longer they can survive. I don’t know how much longer they can go because they’re being hit very hard.

“We could take out every one of those bridges in one hour. We could take out their powerplants, electricity plants, in one hour. … We don’t want to do that, because some day you have to rebuild it, and it takes you 10 years to rebuild the bridges, even if you’re Trump, it takes a long time.”

It seems like there could be something to Jonathan Karl’s report on ABC’s Good Morning America last week that Trump had floated the idea of partnering with Iran to “manage and secure” traffic in the Strait of Hormuz. 

But Iran has threatened retaliation over the US naval blockade of its Strait of Hormuz ports, according to the NYT, while the US military says it has “completely halted” trade in and out of Iran by sea, with more than 10,000 US soldiers and dozens of airplanes and warships deployed.

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AAA National Average Unleaded Regular, Wednesday: $4.108 per gallon, down 1 cent from Tuesday, up $1.126 over February 26. Diesel: $5.635 per gallon, down 1.5 cents from Tuesday, up $2.373 over February 27.

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Meanwhile, World Economy – Global economic growth is projected to slow to 3.1% in 2026 and 3.2% in 2027 if the war in Iran and Lebanon remain limited in duration and scope, the International Monetary Fund says in its preliminary World Economic Outlook, “Global Economy in the Shadow of War” (hat tip to NPR’s Morning Edition). And global headline inflation is projected to rise modestly before resuming its decline in 2027 (NOTE: This means slowdown in the rate of inflation in ’27, not prices coming down.)

However … There are much greater “downside risks” if the conflict is longer, broader, and “worsening geopolitical fragmentation, a reassessment of expectations surrounding artificial intelligence-driven productivity or renewed trade tensions could significantly weaken growth and destabilize financial markets.” 

The summary continues: “Elevated public debt and eroding institutional credibility further heighten vulnerabilities” though with economic gains from AI development a potential mitigation. 

The IMF releases its full World Economic Outlook report at the end of April. –TL

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TUESDAY 4/14/26

Those Aren’t Scrubs – Donald J. Trump as Jesus marks the second time this year that the president has quickly removed a social media post. First was Trump’s video depicting the Obamas as apes, The Wall Street Journal's Politics newsletter notes. After immediate criticism as ‘blasphemy’ from right as well as left, Trump took down this image. He admitted it was his, saying “It’s supposed to be me as a doctor. Making people better. And I do make people better.”

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US, Iran to Try Again? – Peace talks between the US and Iran did not end with Vice President JD Vance’s 21-hour effort in Islamabad last weekend. Two anonymous Pakistani officials not authorized to speak officially told The Associated Press those first negotiations were part of an ongoing diplomatic process. 

On Monday, two US officials said the next round could begin as early as this Thursday in either Islamabad or Geneva.

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AAA National Average Unleaded Regular, Tuesday: $4.118 per gallon, down 0.7 cents from Monday, up $1.136 over February 26. Diesel: $5.65 per gallon, down 0.2 cents from Monday, up $2.388 over February 27.

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Swalwell, Gonzales Out – Rather than face House Ethics Committee investigations over sexual misconduct allegations, Rep. Eric Swalwell (D-CA) Monday stepped down from the House of Representatives. A frequent Trump critic on cable news, the seven-term congressman withdrew as frontrunner in this year’s race for California governor after four women approached The San Francisco Chronicle and CNN with allegations of the congressman’s sexual misconduct.

Rep. Tony Gonzales (R-TX) announced Monday on X-Twitter he would resign Congress but did not specify the date. Gonzales faced a bipartisan expulsion effort later this week, Politico reports. Earlier this month, he admitted to an affair with a staff member, Regina Santos-Aviles, who later committed suicide. 

Cal gov … Swalwell’s withdrawal from California’s gubernatorial race leaves seven Democrats and two Republicans vying for the June 2 primary, from which the two frontrunners will head into the November 3 election regardless of party. With Swalwell out, the two new frontrunners are also Democrats; former US Rep. Katie Porter and billionaire and former presidential candidate Tom Steyer. –Compiled and edited by Todd Lassa

Editor’s Notebook on Hungary’s Elections – The outcome shows the limits of right-wing populism, and this American of Hungarian descent is glad to hear it! It’s an untimely defeat for Trump and renewed hope for Zelenskyy. The new Hungarian leader can earn friends in the EU if he endorses a package of aid to Ukraine. –Charles Dervarics

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TUESDAY 4/14/26

…meanwhile…

Jeffries Elected House Democratic Leader – House Democrats have elected Rep. Hakeem Jeffries (D-NY) (above) their leader, replacing Speaker Nancy Pelosi (D-CA), who announced she would step down after two decades (but remains in Congress for at least two more years). Jeffries, 52, covers New York’s 8th District which includes large parts of Brooklyn and a section of Queens, and becomes the first Black congressional leader from any party, replacing Pelosi, 82, who was the first female congressional leader from any party. Younger Democrats in Congress have been clamoring for more youthful leadership for the last few years. 

Other Leaders: Rep. Katherine M. Clark (D-MA), 59, replaces Rep. Steny Hoyer (D-MD), 83, in the House Democrat number-two spot while Rep. Pete Aguilar (D-CA), 43, replaces Rep. Jim Clyburn (D-SC), 82, for the number-three leadership position. Until the 118th Congress takes over in January, the outgoing top-three Democratic House positions are held by representatives older than President Biden, who just turned 80.

Meanwhile: Current House Minority Leader Kevin McCarthy (R-CA) faces some inner-party opposition as he tries to skate the line between condemning ex-President Trump’s dinner with an antisemite and a white supremacist (see right column) and actually condemning Trump himself. McCarthy cannot afford to lose five Republicans from the incoming House of Representatives to take the speaker’s gavel he long has coveted – which gives Democrats an outside chance of voting Jeffries into the speakership. 

Nobody, but nobody, really expects the GOP majority to let that happen, but it will make for an interesting January on Capitol Hill. 

--TL

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Oath Keepers Guilty of Seditious Conspiracy – Oath Keepers leader Stewart Rhodes and Florida chief Kelly Meggs were found guilty in federal court of seditious conspiracy for their involvement in the January 6th attack on the United States Capitol, Tuesday (The Hill). The Justice Department victory marks the first such conviction for seditious conspiracy since 1995, according to CNN.

All five Oath Keepers defendants were found guilty in the trial of obstruction of an official proceeding. Four Oath Keepers were found guilty of tampering with evidence – the fifth member of the far-right organization was not charged in this count. 

Rhodes and Meggs face potential prison sentences of up to 20 years for each.

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Senate Votes to Codify Same-Sex Marriage – The Senate voted, 61-39, to codify federal recognition of same-sex marriage, with religious liberty protections securing the bipartisan support, Roll Call reports. Lead sponsor Sen. Tammy Baldwin (D-WI) told reporters the bill would ease concerns that the Supreme Court could revisit precedents that protected same-sex and interracial marriage. SCOTUS in 2013 found the 1996 Defense of Marriage Act largely unconstitutional.

Majority Leader Steny Hoyer (D-MD) said the House could take up the bill as early as next week.

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Good Economic News – Various signs are appearing that the Federal Reserve is succeeding in capping inflation without triggering a recession. It’s early yet, but here’s a big piece of such evidence: the national average price of a gallon of gasoline was $3.521 as of Tuesday morning, AAA reports. That’s lower than the average price before Russian President Vladimir Putin invaded Ukraine.

--Compiled and edited by Todd Lassa

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COMMENTS: editors@thehustings.news

Inflation Rate Eases to 8.5%

(WED 8/10/22)

Inflation rate is 8.5% … The Consumer Price Index was unchanged in July, after a 1.3% increase in June, the Commerce Department’s Bureau of Labor Statistics Reports. The annual rate fell slightly to 8.5% from a record 9.1% the previous month. 

Gasoline prices fell 7.7%, while all energy was down 4.6%, the BLS says. Food was up 1.1% and food at home was up 1.3%, leaving the monthly inflation rate for all items except food and energy at 0.3%.

AAA gas prices: The national average is $4.01 per gallon as of Wednesday, AAA reports, down from a record average of $5.016 per gallon on June 14.

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Tuesday’s primaries … See Left- and Right-columns for Democratic and Republican primary highlights from Wisconsin, Minnesota, Vermont and Connecticut.

--Todd Lassa

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COMMENTS: editors@thehustings.news