American consumers and small businesses will continue to feel the sting of high energy prices long after a critical oil shipping channel reopens, economists, business advocates and nonprofit leaders told Democratic senators on Wednesday.
President Donald Trump this week announced a partial peace deal with Iran that involves reopening the Strait of Hormuz, which the administration has said will lower energy and transportation costs for Americans.
But it could take several months before oil and gas prices become more stable for households, farmers, and other small businesses because of the US war with Iran, similar to the volatility the country ...