Gas Prices Jump 80 Cents as Middle East Conflict Disrupts Oil Supply

American drivers are feeling the pinch at gas stations as prices have surged to their highest levels since late 2023, with the average gallon now costing $3.68.

The sharp increase comes as military conflicts in Iran have disrupted oil supplies (the raw material used to make gasoline) from the Middle East. Since the conflict began on February 28, oil prices have skyrocketed by 42%, pushing crude oil (unrefined petroleum) to around $95 per barrel.

### What This Means for Your Wallet

• Gas prices jumped 23 cents in just one week • The national average rose by 80 cents per gallon since the conflict started • California drivers face the highest prices at $5.49 per gallon • These are the highest pump prices since October 2023

The conflict began when the U.S. and Israel launched airstrikes on Iran, disrupting the flow of oil from one of the world's major oil-producing regions. When oil supply is threatened or reduced, prices typically rise because there's less available for the same demand.

For everyday Americans, this means spending significantly more to fill up their tanks. A typical 15-gallon fill-up now costs about $12 more than before the conflict began. With no immediate end to the tensions in sight, drivers may need to budget for higher fuel costs in the coming weeks.

*This is an AI-generated summary. Read the original article at: https://www.marketwatch.com/story/heres-how-much-more-u-s-drivers-are-paying-at-the-pump-as-the-iran-conflict-enters-a-third-week-12318d79?mod=mw_rss_topstories*