Gas prices rise as U.S.-Iran conflict disrupts global oil supply

Drivers across the country are feeling the impact at the pump as gas prices continue to climb amid the ongoing conflict between the United States and Iran.
Gas Prices Rise As U.s. Iran Conflict Disrupts Global Oil Supply

(CNN)- Drivers across the country are feeling the impact at the pump as gas prices continue to climb amid the ongoing conflict between the United States and Iran.

“You see it’s $60, so it is what it is — and at this point I guess you have to do what you got to do,” said one Ohio resident reacting to rising fuel costs.

The spike comes as tensions in the Middle East disrupt tanker traffic through the Strait of Hormuz — a critical passage that carries roughly 20 percent of the world’s oil supply. Analysts say that disruption is already tightening supply and pushing prices higher.

Some lawmakers are criticizing the administration’s handling of the conflict. Senator Bernie Sanders says the situation contradicts previous promises to avoid prolonged military engagements.

“Trump ran on the campaign trail saying ‘I’m going to end endless wars…’ and he went back on his word,” Sanders said.

President Donald Trump, however, remains optimistic that a resolution could be reached, saying negotiations are underway and both sides have an incentive to strike a deal.

“We have a number of people doing it, and the other side — I can tell you — they’d like to make a deal,” Trump said. “And who wouldn’t if you were there?”

Energy experts warn the situation could worsen before it improves. Patrick De Haan with GasBuddy says prolonged tensions could keep fuel prices elevated for an extended period.

“I think they’re going to start playing hardball, and that escalates the risk that this could be dragged on a longer period of time,” De Haan said. “Consumers through higher gasoline, diesel, and jet fuel prices are going to have a little bit of sticker shock that could linger.”

That sticker shock could also impact summer travel plans. AAA says demand for travel remains strong, but higher fuel costs may force travelers to budget more carefully.

“Travel has been a top priority for a lot of travelers the past couple of years,” said AAA spokesperson Valerie Puma. “You may be paying slightly higher costs to get down there.”

With no immediate resolution in sight, experts say drivers should prepare for continued volatility at the pump in the weeks ahead.

Categories: Across the Nation, Featured