The Situation Room with Wolf Blitzer and Pamela Brown Gas Prices Continue to Rise
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Mar 20, 2026 Brett McGurk, CNN Global Affairs Analyst and former U.S. diplomat, offers frontline knowledge on the Iran war and regional strategy. He discusses military timelines and Strait of Hormuz risks. The conversation also covers how escalating Gulf strikes ripple through oil markets and the resulting surge in gas prices.
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Reopening the Strait Is A Slow Complex Operation
- Military objectives in the Gulf are shifting toward reopening the Strait of Hormuz, a complex operation requiring weeks and coalition-building.
- Brett McGurk explains replenishment limits on Iran's missiles and the need for naval coalitions and planning before action.
Gas Spike Could Erase Your Tax Refund
- Rising gas prices and a modest tax refund cancel each other out for many Americans, reducing the net benefit of recent tax changes.
- David Goldman notes $3.91/gal average and Moody's says six months at $4/gal adds ~$700, wiping out the ~$350 average refund increase.
Prioritize Paying Off High Cost Debt Now
- Check loan delinquencies and prioritize reducing high-cost debt because rising living costs increase default risk.
- David Goldman highlights surging credit card and auto loan delinquencies and warns auto repossession is a real threat.