This post is part of a series chronicling news coverage of rising prices in the United States. See more here.
An economist tells St. Paul, Minnesota, station KSTP 5 Eyewitness News that gas prices won't return to pre-war levels until “after 2027”
St. Thomas University's Tyler Schipper: “We could be talking about 18 months to 2 years before we start seeing gasoline prices like they were at the beginning of 2025”
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From a May 14, 2026, video uploaded to the YouTube channel of KSTP 5 Eyewitness News
KAMARIA BRAYE (REPORTER): Don't hold your breath for that relief. People pumping gas behind me, they are feeling it. And at this Speedway, the average gas prices are at $4.59. That is higher than the state and the national average. And people we've talked to today say they're having to make sacrifices in order to keep up.
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TYLER SCHIPPER (UNIVERSITY OF ST. THOMAS ASSOCIATE PROFESSOR): So, the spike in gas prices is going to continue to be what's happening in Iran and the Strait of Hormuz.
BRAYE: Tyler Schipper, an economist with St. Thomas University, says don't expect a quick drop.
SCHIPPER: People shouldn't actually expect gasoline prices to be back down to where they were at the beginning of the year until after 2027. So, we could be talking about 18 months to 2 years before we start seeing gasoline prices like they were at the beginning of 2025.
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SCHIPPER: I think as long as there is still the conflict there, there is certainly still a possibility that oil prices and gasoline prices continue to rise.