The US-Iran War: What It Means for Your Gas Bill
Ten days into the US-Israel military operation against Iran, Americans are feeling it at the pump.
Gas prices have surged roughly 20% since joint airstrikes launched on February 28, with the national average for regular gasoline hitting $3.55 a gallon as of March 10 — up 61 cents from a month ago, according to CBS News. Just one month ago, only nine states averaged above $3 a gallon. Now it's 48.
Why prices are spiking
The conflict has disrupted the Strait of Hormuz — a narrow waterway through which roughly 20% of global oil and gas supply passes. Its effective closure has sent crude oil soaring from around $67 per barrel before the strikes to nearly $97, according to Al Jazeera.
Analysts warn it may not stop there. One senior Eurasia Group analyst has forecast $5 diesel within the week, reports PBS NewsHour. Grocery bills, heating costs, and air travel fares are all expected to follow.
The political fault lines
A Quinnipiac poll found 53% of Americans oppose the military action, per Fortune. That number is likely to move as consumers connect foreign policy to their daily costs.
The White House has pushed back, predicting prices "will come down rapidly," per the Washington Times. Critics argue that optimism is premature while the Strait remains contested.
The bigger picture
The conflict has also drawn in regional powers and upended global energy markets beyond oil — shipping, insurance premiums, and supply chains are all in flux. With midterm elections approaching, Axios reports the gas price surge is already reshaping battleground Senate races.
How long this lasts depends entirely on when — and whether — the Strait reopens.
Sources: CBS News · Al Jazeera · PBS NewsHour · Axios
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