{"id":8843,"date":"2026-03-03T13:57:47","date_gmt":"2026-03-03T19:57:47","guid":{"rendered":"https:\/\/westplexnews.com\/index.php\/2026\/03\/03\/iran-war-drives-gas-price-uncertainty-ahead-of-busy-summer-season\/"},"modified":"2026-03-03T13:57:47","modified_gmt":"2026-03-03T19:57:47","slug":"iran-war-drives-gas-price-uncertainty-ahead-of-busy-summer-season","status":"publish","type":"post","link":"https:\/\/westplexnews.com\/index.php\/2026\/03\/03\/iran-war-drives-gas-price-uncertainty-ahead-of-busy-summer-season\/","title":{"rendered":"Iran war drives gas price uncertainty ahead of busy summer season"},"content":{"rendered":"
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A gas pump is seen in a vehicle on Nov. 26, 2025, in Austin, Texas. Gas prices rose Tuesday after the U.S.-Israel strikes on Iran. (Photo by Brandon Bell\/Getty Images)<\/p>\n<\/figcaption><\/figure>\n

The national average price of a gallon of regular gasoline topped $3 Tuesday for the first time this year, and is expected to keep going up.<\/p>\n

The average price Tuesday was $3.11, up about 11 cents from Monday, according to AAA.<\/p>\n

\u201cThe pump reaction is not only underway \u2014 it\u2019s accelerating,\u201d said Patrick De Haan, head of petroleum analysis for GasBuddy, which tracks prices.<\/p>\n

Increases were already on tap even before Saturday\u2019s U.S.-Israel strikes at Iran, as warmer weather usually means more demand and refiners start producing a summer-blend product.<\/p>\n

But the attack adds new, powerful momentum to the price surge. The war makes it tough to forecast how long any increases will last or how big they could be. Recent experience does offer some hope that any big spike won\u2019t last.<\/p>\n

\u201cWhile oil markets continue to react to potential tensions in the Middle East, history has shown that the price increases are temporary and quickly fall back,\u201d said\u00a0Joseph Brusuelas,<\/a> chief economist and principal at the consulting firm RSM US, on his Real Economy Blog.<\/p>\n

President Donald Trump, speaking at a news conference with German Chancellor Friedrich Merz on Tuesday, sought to justify the strikes and said any price hikes would be temporary.<\/p>\n

\u201cPeople felt it\u2019s something that had to be done,\u201d he said. \u201cSo if we have a little high oil prices for a little while, but as soon as this ends, those prices are going to drop, I believe, lower than even before.\u201d<\/p>\n

Immediate market reaction<\/h4>\n

The market reaction to the Iran war so far has been swift.<\/p>\n

Brent crude oil,<\/a> considered the global standard, topped $80 a barrel early Monday, up from the low 70s last week.<\/p>\n

Some analysts saw prices having the potential to go as high as $100 a barrel.<\/p>\n

\u201cThe forecasts are wide-ranging from over $100\/barrel to lower prices this week on new Iraqi oil hitting the market,\u201d said Matt McCall,<\/a> founder of NXT Wave Research, an investment and market analysis firm, in a tweet. \u201cI see a spike to start the week\u2026and then it depends on the longevity of the war. A quick war and oil does not stay elevated. What is almost certain is volatility.\u201d<\/p>\n

The surge in oil prices fueled\u00a0an overall slide<\/a> in U.S. stock markets Tuesday, with the Dow Jones Industrial Average down nearly 2% around midday.<\/p>\n

Prices up across states<\/h4>\n

The increases were felt in state after state Tuesday, according to the\u00a0AAA gasoline price survey.<\/a><\/p>\n

The nation\u2019s lowest gasoline prices tend to be in the South, from roughly Mississippi to Texas.<\/p>\n

The price of a gallon of regular in Oklahoma, the least expensive of any state, was $2.62 Tuesday, up from about $2.47 Monday.<\/p>\n

Other changes in the lowest price states:<\/p>\n