Gasoline prices are still rising as the Iran war stretches into its third week
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U.S. gasoline prices are up nearly 80 cents from a month ago, while diesel prices have shot up even more. Diesel is now just under $5 a gallon, according to AAA, up $1.34 from last month. (Image credit: Lindsey Wasson)
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Gasoline prices are still rising as the Iran war stretches into its third week March 16, 2026 1:50 PM ET Camila Domonoske A customer fuels up with regular gasoline priced at $5.29 at a Chevron gas station in Bellevue, Wash., Friday, March 13, 2026. Lindsey Wasson/AP hide caption toggle caption Lindsey Wasson/AP Global crude oil prices have been volatile over the last few weeks following the U.S. and Israel's attack on Iran. They spiked to nearly $120 a barrel about a week after the war began, and then fell to around $100, where they have been hovering for several days. Before the war, oil was closer to $70 a barrel. U.S. gasoline prices, on the other hand, have gone in only one direction: Up. And up. And up. Loading... Prices at the pump are currently averaging $3.718 a gallon, according to the latest data from the American Automobile Association , which tracks prices nationwide . That's up nearly 80 cents from a month ago. Diesel prices, meanwhile, have grown even more sharply. Diesel is just under $5 a gallon, according to AAA, $1.34 higher than last month. Business WATCH: How traffic dried up in the Strait of Hormuz since the Iran war began Global oil supplies are experiencing their worst disruption in decades, thanks to a sharp decrease in ship traffic through the Strait of Hormuz , the crucial waterway through which about 20% of the world's oil traffic typically passes, as well as attacks by both sides on critical oil infrastructure. Prices are still lower than they were in 2022, when Russia's full-scale invasion of Ukraine sent them soaring. But they could continue to rise. "Until we see a meaningful resumption of oil flows through the Strait of Hormuz, upward pressure on fuel prices is likely to persist," Patrick de Haan, the head of petroleum analysis at the app GasBuddy, wrote in a note on Monday. "At the same time, seasonal forces are beginning to intensify as several regions complete the transition to summer gasoline, creating a double headwind that could...
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