WILLIAM BRANGHAM: The steep rise# in gas prices because of this war## is the second largest spike in three# decades, and it is hitting Americans'## wallets.

Many have told us how they're# now scrambling to fill their own tanks.

SAMANTHA LOTT, Texas Resident: My name is# Samantha Lott.

I currently live in Denton, Texas.

JAMES LAWRENCE, Nebraska Resident: I'm# Jim Lawrence.

I live in Omaha, Nebraska.

ALEXIS MIMS, Texas Resident:# My name is Alexis Mims.

JAMIE PARDAU, Hawaii Resident: My name is Jamie# Pardau.

And I live in.. JONATHAN TIPTON MEYERS, California# Resident: I'm Jonathan Tipton## Meyers.

I'm a full-time rideshare driver.

As soon as this war started, gasoline# prices jumped up minimum 50 cents,## but in certain areas it was a dollar as well too.

JAMIE PARDAU: My husband and I are making# an effort to combine any trips that we## take into town or to stores, so that we# aren't driving unnecessarily.

I don't## think it ever occurred to me that# our gas would be over $5 a gallon.

ALEXIS MIMS: We are -- we are struggling.

Now## it's not just the groceries that are expensive,# but now it's the gas that is out of control.

SAMANTHA LOTT: I am a community mental# health social worker.

As I'm sure you know,## I do not make a lot of money.

And so having# to use my own car and drive a lot around two## different counties, I'm buying a lot of gas.# Then, in order to make ends meet as well,## I have to deliver groceries on the# side in the evenings and the weekends.

I'm filling up my tank every other# day, and I'm having to pay like $40 to## $50 to do so.

Any money that I get from# my daytime job is usually a month late## for reimbursement.

And so I'm having to# figure out how to make that money stretch## and like what kind of food am I going# to eat this month, that type of thing.

It's really anxiety-ridden right now times for# me and a lot of other people, especially people## that are single and are having to pay all of their# household costs themselves.

It's really difficult.

JAMES LAWRENCE: Right now, my income is tied# to the market.

So, it's in my retirement## accounts.

And so with the volatility of# gas goes the volatility of the market,## and one goes up, and your bank balance goes down,## and that really is the most concerning thing# about the future.

All of this needs to stabilize.

JAMIE PARDAU: In Hawaii, so much of what we# have purchased in the stores is imported,## and so it isn't really just the cost# of gas that is going to impact our## community.

It's going to be the# cost of just about everything.

JONATHAN TIPTON MEYERS: We're constantly trying# to calculate whether a ride can actually be## profitable for us.

So if you add on an increased# gas price, it just makes making those decisions## even more difficult.

And at the end of the month,# that's a significant raise in your actual price,## in your anxiety, in your ability to drive# safely and maintain your car and do your job.

ALEXIS MIMS: My son is three hours# away in college, and my daughter is## 30 minutes away.

The amount of gas is too# much to go ahead and travel at this time,## so we are forgoing plans for any type# of get-togethers.

But, thankfully,## we have modern technology, so for# now we just keep in touch that way.

SAMANTHA LOTT: I don't really do a lot of things# other than work, just because I can't afford to,## and that's really sad, because in# order to have a well-balanced life,## people need to be able to go do things,# support local businesses, hang out with## their friends.

And those are kind of luxuries# at this point that I just truly can't afford.

WILLIAM BRANGHAM: So how long are# gas prices expected to stay high,## and, more broadly, how bad a shock will# this war deliver to the global economy?

For that, we turn again to Cliff Kupchan.# He is chairman of the Eurasia Group,## which is an international consulting firm.

Cliff, so good to have you# back on the "News Hour."

So you have heard from these people about how# difficult it is for them just to fill their tanks.## Gas is over $4 a gallon, Brent crude at over 118# a barrel.

If this war continues, as the president## said tonight, even for a couple more weeks or# maybe longer, how much worse could this get?

CLIFF KUPCHAN, Research Director,# Eurasia Group: It could get a lot worse.

The Strait of Hormuz is so critical to the# international economy, for oil, for LNG, for## helium, for chips, for food, for fertilizer.

It is# just a choke point for the international economy.## I don't think that, for the foreseeable future --# I think this war, I think, is going to get worse.

Judge President Trump by his actions, which# is sending more equipment to the Gulf,## not by something he might have said today# about caring about opening the Gulf.

So I## think this is going to be a stranglehold on the# economy.

It's going to rise prices and raise## prices in many sectors and stoke inflation in# countries around the world.

It's a real problem.

WILLIAM BRANGHAM: You touched on a few# of those other products that come through## the Gulf.

Apart from energy supplies, what# other industries will those mostly affect?

CLIFF KUPCHAN: Well, again, helium, which is# critical to making advanced chips for A.I.,## aluminum, petrochemicals, fertilizer,## and food prices.

Those are the# main ones.

But that's a whole lot.

And especially for countries that import food,## it's going to be a real battle to keep the books# balanced and to keep inflation under control.

WILLIAM BRANGHAM: Do you think that# consumers, or maybe even more importantly,## the market has taken on board this# idea that this could get so much worse?

CLIFF KUPCHAN: No.

Unfortunately, I think that markets, which I can# sp.. but markets have had their head in the sand.# I think markets still have their head in the## sand.

The market rally today, in part on# President Trump's comments that he could## end the war without opening the Strait of# Hormuz, that's just really wishful thinking.

President Trump also sent a third aircraft# carrier to the Gulf today.

He's sending more## troops to the Gulf.

It's -- I think markets are in# denial that there's a strong chance we get ground## forces in Iran and that prices go up even further# towards the $130 level, $130 a barrel for Brent.

It's going to get bad.

WILLIAM BRANGHAM: Do you really believe,# judging by what you're saying, that.. conflict will escalate, that, despite# what the president has been saying... CLIFF KUPCHAN: I do.

I do.

President Trump has -- again, I'm not going to put# a judgment on it, but he's now attacked Iran twice## in the middle of ongoing negotiations.

I think# that, as an analyst, it's just not useful to track## his day-to-day words.

It's much more useful to# track the administration's day-to-day movements,## which is putting men and a whole lot# of metal and hardware into the region.

So I -- yes, I think it's going to get worse.# It may not gone more than two or three weeks,## but I think we're going to see a lot# of combat and bombing before then.

WILLIAM BRANGHAM: The president# again reiterated this point that,## if nations are not willing to help reopen# the strait and they're thirsty for more oil,## that they ought to just buy that oil from the# United States.

Is that a realistic exchange?

CLIFF KUPCHAN: No.

Global markets a.. Energy prices are going to stay high as# long as the Strait of Hormuz is closed,## and alternative sources are hard to# come by, especially for LNG.

So the## president's comments really don't speak# to how energy markets work, unfortunately.

WILLIAM BRANGHAM: All right, that is# Cliff Kupchan of the Eurasia Group.

Always great to hear from you.# Thank you so much for being here.

CLIFF KUPCHAN: Thank you, sir.