US Energy Crisis

A car drives behind the gasoline price board at a Valero gas station in San Francisco, Saturday, April 4, 2026.

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Stopgap measures aren't enough to halt rising prices as the world scrambles for more oil

Stopgap measures aren't enough to halt rising prices as the world scrambles for more oil

Global leaders have been scrambling to contain the rising cost of oil and gasoline since the start of the Iran war. President Donald Trump and other heads of state have been pulling on various levers while hoping to ease pain for consumers. They coordinated to launch 400 million barrels of oil onto the market. And Trump lifted sanctions on Russian and Iranian crude. Experts say the maneuvers are adding some oil to the market but it's not enough to halt the steep climb in gas prices that consumers are experiencing.