\u2014 the narrow channel off the coast of Iran through which one-fifth of the world\u2019s oil travels \u2014 until September.<\/p>\n\u201cSo my calculation is that, on the trajectory we\u2019re at right now, we should be expecting $4.90 gas by the end of next week. We are on track to get to $5 or even above by Memorial Day,\u201d she continued.<\/p>\n
And even after that, Treyz said the 300% hike in insurance costs for insuring the tankers and \u201cthe reality that 80 of the largest refiners and energy producers on the Earth have been bombed\u201d would have to be taken into account.<\/p>\n
It\u2019ll be \u201cyears until those facilities are back up and running and we\u2019re near anything with a $2 in front of it for gas,\u201d she predicted.<\/p>\n
Witt quipped: \u201cOhh, great timing with the summer driving season coming up.\u201d<\/p>\n
Then she asked Treyz: \u201cSo, you\u2019re saying it\u2019s how long until we get something with a 2 in front of it per gallon of gas? You\u2019re saying years?\u201d<\/p>\n
\u201cI\u2019m saying years,\u201d the economist affirmed. \u201cSeptember until we get back to anything with a regular flow and then you\u2019ve got to rebuild 80 facilities.\u201d<\/p>\n
\u201cIt\u2019s gonna be years,\u201d she repeated.<\/p>\n
After a lengthy pause and a small shake of her head, Witt said: \u201cWow.\u201d<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"Economist Henrietta Treyz momentarily stunned MS NOW\u2019s Alex Witt into silence with her prediction about when gas prices…\n","protected":false},"author":2,"featured_media":566029,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[193976,84,141,1294,63492,193977,164199,56,54,55],"class_list":["post-566028","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-alex-witt","tag-business","tag-donald-trump","tag-economy","tag-gas-prices","tag-henrietta-treyz","tag-iran-war","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/566028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=566028"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/566028\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/566029"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=566028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=566028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=566028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}