Trump appears willing to accept high energy prices as the cost of pursuing regime change in Iran, which is bad news for consumers and businesses facing more expensive fuel.

• Trump is pushing ahead on Iran with no red lines, and rising diesel costs are being treated as an acceptable cost of doing business.
• Diesel could hit $10 a gallon, which would hit truckers, farmers, and shipping and push up prices on everyday goods.
• The bet is that the Iranian regime is weaker than it looks and could actually be brought down.
• Higher fuel costs would feed inflation just as people are already stretched by high living costs.

Outlook: Expect energy prices to stay high or climb further as long as the Iran conflict continues, with no sign Trump will change course to protect gas prices.