Staff Reports
Steve Forbes told viewers on Rob Schmitt Tonight what a lot of Americans want to hear: gas prices will fall once the Iran conflict ends. He was blunt, and he didn’t bother dressing it up as wishful thinking. Watch the clip below to hear his take and the lively back-and-forth with Brandon Farris.
Forbes’ Forecast: Gas Prices Will Fall After Iran Conflict Ends
Steve Forbes, Chairman & Editor-in-Chief of Forbes Media, told Rob Schmitt, host of Rob Schmitt Tonight on Newsmax, “You’ll start to see gas prices go down.” He tied the pump pain directly to the Iran conflict and said the recent ceasefire was a mistake, calling Iran’s leaders “incorrigible.” Brandon Farris, the social-media comedian/content creator, joined the segment and added color, but the main point was straight: fix the geopolitical problem and the price pressure eases. That is simple logic, and markets often move on simple facts.
Experts Warn: Relief Is Not Guaranteed or Fast
Don’t get too comfortable just yet. AAA reports the national average at about $4.56 a gallon heading into the holiday travel period, the highest in roughly four years. GasBuddy’s Patrick De Haan says this could be the most volatile summer at the pump in years and warns the summer average could sit in the mid-to-high $4.00s — with a nasty scenario pushing it toward $5 if the Strait of Hormuz stays disrupted. Moody’s Mark Zandi and Energy Secretary Chris Wright have both urged caution, noting prices may take months or even longer to fall back to pre-conflict levels. So Forbes is optimistic; other forecasters are realistic and a bit colder.
Strait of Hormuz: Why This Really Matters
The reason is basic supply math and fear. The Iran conflict tightened shipments through the Strait of Hormuz, a key chokepoint for global oil flows. When supply tightens and traders fear more disruption, crude spikes fast and gasoline follows — often staying stubbornly high even as oil eases. Economists call it the “rockets and feathers” effect: prices shoot up quickly and come down slowly. If the route reopens and risk premiums fall, Forbes may be right. If not, consumers will keep paying for politics they didn’t vote for.
What Washington Should Do — And What Voters Should Demand
Here’s the plain, conservative answer: secure the routes, push for strong diplomacy backed by deterrence, and stop kneecapping domestic energy production. Voters should expect leaders to protect supply and to pursue policies that ease costs at the pump. Blaming markets or hoping for a magic bureaucracy to fix things won’t cut it. Steve Forbes’ on-air prediction is a welcome dose of clarity: geopolitics drives gasoline prices. The rest of Washington would do well to catch up — or at least stop pretending a press release will lower your weekly fuel bill.
