Oil and gas prices are staying high because of the Iran conflict, and that's bad news for regular Americans already stretched thin.

• Iran has effectively closed the Strait of Hormuz by threatening ships, so oil keeps flowing unevenly and prices stay high.
• Gas could sit around $4.25 a gallon by November, with diesel above $5 — bad for shipping, farming, and food prices.
• The US oil reserve has dropped to its lowest since 1983, so there's little cushion left if a refinery breaks down.
• Refineries are running near full and delaying repairs to cash in on high margins, raising the risk of a sudden outage.
• Borrowing costs are rising as war spending and the deficit grow, while many families say they're living paycheck to paycheck.

Outlook: No quick end to the Iran conflict is in sight, so high fuel prices and squeezed household budgets are likely to persist into winter.