Oil futures show gas prices staying high for years, which is bad for drivers, homebuyers, and Republicans heading into the midterms.

• The futures market does not expect oil to fall back below $70 until 2032, meaning roughly six more years of expensive gas.
• The Iran war damaged oil infrastructure across the Middle East, and Ukraine has destroyed much of Russia's oil and gas capacity, deepening the global shortage.
• Higher gas prices have wiped out the average savings Americans were supposed to get from Trump's tax cut bill.
• Mortgage rates jumped back above 6%, refinancing demand fell 18%, and the housing market that was starting to thaw in January is frozen again.
• Trump's economic adviser Kevin Hassett dismissed falling consumer sentiment as a political survey, but Republican approval of Trump's economy handling has dropped from 68% to 63%.

Outlook: Gas prices and mortgage rates will likely stay high for years, squeezing household budgets and hurting Republicans politically through the midterms.