Oil price spikes throughout history: ‘Everything just cost more’
MSNBC·2026-03-21 18:45
with our friend Caleb Silver He's the chief business editor at People, Inc. He's the editor-in-chief of Investopedia. Right now, everybody's talking about it. Gas prices are soaring across the country, almost at $4 a gallon as a national average, $5 .65 or something like that if you're in California.This is all because of the war in Iran and a near total block on the crucial strait of Hormuz. Now, spikes in oil prices have happened throughout history. So Caleb and I are going to take a trip through time wit ...