The Electric: High Gas Prices Are Giving Chinese EV Makers Even Greater Advantage

Oil prices have plunged from their highs on the news of the two-week ceasefire between the U.S. and Iran and a partial reopening of the Strait of Hormuz. But they remain roughly $100 a barrel—about 50% higher than they were before the war began—and economists expect prices at the pump to remain elevated for much of the year.