Gas prices surge across U.S. as war with Iran pushes oil markets higher
Drivers across the United States are feeling the pain at the pump as gas prices spike amid the ongoing U.S.–Israeli war with Iran.
(CNN)- Drivers across the United States are feeling the pain at the pump as gas prices spike amid the ongoing U.S.–Israeli war with Iran. From Nevada to Illinois and Arkansas, many drivers say the sudden increase is putting pressure on their wallets.
“It’s ridiculous. I can’t even afford to fill my tank no more,” said Nevada driver Rebecca Currie.
Some say the higher costs are forcing them to rethink their daily transportation.
“I’m actually thinking of selling my car,” said Christy Hansen.
While the price increases vary across the country, some of the highest costs have been seen in California, where drivers reported paying more than eight dollars per gallon over the weekend.
Nationwide, gas prices have jumped nearly 50 cents since the start of the war — a roughly 17 percent increase. The national average for a gallon of regular gas stood at three dollars and 48 cents as of Monday, according to AAA. Energy analysts warn the situation could get worse depending on how long the conflict continues.
“Gas prices likely continue advancing, oil prices will likely keep climbing until that oil can move again,” said Patrick De Haan, a petroleum analyst with GasBuddy.
The rising costs are tied in part to concerns about oil shipments moving through the Strait of Hormuz, a critical transit route affected by the war. President Donald Trump addressed the issue Monday, saying the United States is better positioned than other countries to handle the situation.
“It affects other countries much more than it does the United States. We have tremendous oil and gas. We have Venezuela now as our new partner, great partner. And it’s a massive source of oil, gas,” Trump said.
The president also suggested possible steps to reduce prices.
“We’re also waiving certain oil-related sanctions to reduce prices,” Trump said.
Analysts say gas prices will likely remain closely tied to developments in the Middle East as the conflict continues.
