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Sep 16, 2026 at 06:40 AM EDT
Americans are set to face a significant spike in gas prices on Wednesday and Thursday as the conflicts in Ukraine and Iran continue to squeeze global oil supplies, according to analysts.
Tom Kloza, chief energy advisor at Gulf Oil, warned on Tuesday that the following 24 hours would bring "staggering increases at the pump for both gasoline and diesel."
Fuel margins—the difference between what a petrol station or retailer pays for wholesale fuel and what they charge drivers at the pump—have "yet to catch up with previous wholesale hikes," Kloza wrote on X.
"Watch for huge increases in Great Lakes and Rocky Mountain states in particular," he added.
Patrick De Haan, head of petroleum analysis at GasBuddy, issued a similar warning on Tuesday, writing on social media: "we've reached a new milestone—the U.S. average diesel price has hit $6.301/gal while gasoline is up to $4.355/gal.
"I expect both of these to jump noticeably over the next 48 hours. diesel could hit $6.60/gal in a few days, surpassing the inflation-adjusted peak seen in 2022."
The latest data from the American Automobile Association (AAA) shows that the national average price for gasoline was $4.37 per gallon on Wednesday, up from $4.33 per gallon on Tuesday and $4.22 per gallon a week earlier. Compared to a year earlier, the national average was up by more than a dollar, from $3.19 per gallon.
Drivers in California paid the highest price in the country, at $6.04 per gallon. In five other states—Washington, Hawaii, Nevada, Oregon and Alaska—the average was above $5 per gallon.
Drivers paid the lowest price for gas in the country in Indiana, at $3.75 per gallon. Compared to a year ago, prices in the state were up from $3.12.
In only 10 states, including Indiana, statewide gas prices were below an average of $4 per gallon. These were Texas ($3.8788), Mississippi ($3.8955), Louisiana ($3.9278), Alabama ($3.9446), Arkansas ($3.9699), Kansas ($3.9733), Missouri ($3.9745), Kentucky ($3.9903) and Tennessee ($3.9970).
In 34 other states, the statewide average gas price was between $4 and $5 per gallon.
Upward is not the direction that gas prices should be taking this time of the year. The cost of gasoline normally falls after Labor Day, as summer travel winds down and demand eases, while refiners and fuel distributors transition to less expensive winter-grade gasoline.
“We usually see some limited seasonal drops as U.S. gasoline demand fades into the autumn and we change to winter gasoline, but that relief is in question and can be offset by new or continued escalations” in each of the wars in Ukraine and Iran, De Haan previously told Newsweek.
Geopolitical Tensions Still Dramatically Affect Oil Supplies
With the U.S. and Iran recently exchanging more airstrikes and the Russian invasion of Ukraine now well into its fifth year, these two major geopolitical tensions are still dramatically affecting oil supplies in a way that is bringing up energy prices across the world, including the U.S.
The ongoing conflict in the Middle East has effectively blocked traffic through the Strait of Hormuz, where one fifth of the world’s supply of oil normally transits. Iran’s tight grip on the strait has stoked fear of supply shortages, making crude oil prices surge in the weeks following the start of the conflict; as the war appears to have no clear end in sight, prices have remained high.
On top of that, a drone attack closed a critical oil pipeline in Saudi Arabia. Drones hit the 745-mile East-West pipeline which Riyadh announced it had closed as a precaution. The pipeline allows Saudi oil to bypass the blockaded Strait of Hormuz and be exported via the Bab el-Mandeb Strait and the Red Sea. Riyadh said the attack had originated in Iraq, later confirmed by Baghdad, which has launched an investigation.
As of Wednesday, Brent crude, the international standard, was trading at approximately $107 a barrel, up from about $70 before the start of the conflict.
Higher gas prices, which are driving up inflation in the U.S., will likely pose a political challenge for President Donald Trump and Republicans ahead of the November midterms, as the cost of living remains a top concern for voters.
During his 2024 presidential campaign Trump promised to lower prices for everyday Americans, including how much they spend for filling the tank. In September of that year, he vowed to bring down the price of gas under $2 per gallon if elected.
While still a dollar short of his pledge, gas prices had fallen below $3 in late February, before the U.S. and Israel launched joint strikes in Iran. Since the outbreak of the war, gas prices in the U.S. are up by more than 30 percent.
But, addressing voters at a political rally in Garden City, New York, on August 14, Trump said that paying “a tiny little bit more for your gasoline” is worth the cost of ensuring “a very evil country” could not have a nuclear weapon.
According to data compiled by Nate Silver for his Silver Bulletin, the president had a net approval rating of -19.5 as of Tuesday. At the same stage in his first term, Trump was at -13.
For the first time in years, an August Reuters/Ipsos poll found that more voters (37 percent) thought Democrats would do a better job managing the economy than Republicans (36 percent). Another 27 percent were unsure.
SOURCE: https://www.newsweek.com/gas-prices-to-see-staggering-increase-across-multiple-states-12448728
Sep 16, 2026 at 06:40 AM EDT
Americans are set to face a significant spike in gas prices on Wednesday and Thursday as the conflicts in Ukraine and Iran continue to squeeze global oil supplies, according to analysts.
Tom Kloza, chief energy advisor at Gulf Oil, warned on Tuesday that the following 24 hours would bring "staggering increases at the pump for both gasoline and diesel."
Fuel margins—the difference between what a petrol station or retailer pays for wholesale fuel and what they charge drivers at the pump—have "yet to catch up with previous wholesale hikes," Kloza wrote on X.
"Watch for huge increases in Great Lakes and Rocky Mountain states in particular," he added.
Patrick De Haan, head of petroleum analysis at GasBuddy, issued a similar warning on Tuesday, writing on social media: "we've reached a new milestone—the U.S. average diesel price has hit $6.301/gal while gasoline is up to $4.355/gal.
"I expect both of these to jump noticeably over the next 48 hours. diesel could hit $6.60/gal in a few days, surpassing the inflation-adjusted peak seen in 2022."
The latest data from the American Automobile Association (AAA) shows that the national average price for gasoline was $4.37 per gallon on Wednesday, up from $4.33 per gallon on Tuesday and $4.22 per gallon a week earlier. Compared to a year earlier, the national average was up by more than a dollar, from $3.19 per gallon.
Drivers in California paid the highest price in the country, at $6.04 per gallon. In five other states—Washington, Hawaii, Nevada, Oregon and Alaska—the average was above $5 per gallon.
Drivers paid the lowest price for gas in the country in Indiana, at $3.75 per gallon. Compared to a year ago, prices in the state were up from $3.12.
In only 10 states, including Indiana, statewide gas prices were below an average of $4 per gallon. These were Texas ($3.8788), Mississippi ($3.8955), Louisiana ($3.9278), Alabama ($3.9446), Arkansas ($3.9699), Kansas ($3.9733), Missouri ($3.9745), Kentucky ($3.9903) and Tennessee ($3.9970).
In 34 other states, the statewide average gas price was between $4 and $5 per gallon.
Upward is not the direction that gas prices should be taking this time of the year. The cost of gasoline normally falls after Labor Day, as summer travel winds down and demand eases, while refiners and fuel distributors transition to less expensive winter-grade gasoline.
“We usually see some limited seasonal drops as U.S. gasoline demand fades into the autumn and we change to winter gasoline, but that relief is in question and can be offset by new or continued escalations” in each of the wars in Ukraine and Iran, De Haan previously told Newsweek.
Geopolitical Tensions Still Dramatically Affect Oil Supplies
With the U.S. and Iran recently exchanging more airstrikes and the Russian invasion of Ukraine now well into its fifth year, these two major geopolitical tensions are still dramatically affecting oil supplies in a way that is bringing up energy prices across the world, including the U.S.
The ongoing conflict in the Middle East has effectively blocked traffic through the Strait of Hormuz, where one fifth of the world’s supply of oil normally transits. Iran’s tight grip on the strait has stoked fear of supply shortages, making crude oil prices surge in the weeks following the start of the conflict; as the war appears to have no clear end in sight, prices have remained high.
On top of that, a drone attack closed a critical oil pipeline in Saudi Arabia. Drones hit the 745-mile East-West pipeline which Riyadh announced it had closed as a precaution. The pipeline allows Saudi oil to bypass the blockaded Strait of Hormuz and be exported via the Bab el-Mandeb Strait and the Red Sea. Riyadh said the attack had originated in Iraq, later confirmed by Baghdad, which has launched an investigation.
As of Wednesday, Brent crude, the international standard, was trading at approximately $107 a barrel, up from about $70 before the start of the conflict.
Higher gas prices, which are driving up inflation in the U.S., will likely pose a political challenge for President Donald Trump and Republicans ahead of the November midterms, as the cost of living remains a top concern for voters.
During his 2024 presidential campaign Trump promised to lower prices for everyday Americans, including how much they spend for filling the tank. In September of that year, he vowed to bring down the price of gas under $2 per gallon if elected.
While still a dollar short of his pledge, gas prices had fallen below $3 in late February, before the U.S. and Israel launched joint strikes in Iran. Since the outbreak of the war, gas prices in the U.S. are up by more than 30 percent.
But, addressing voters at a political rally in Garden City, New York, on August 14, Trump said that paying “a tiny little bit more for your gasoline” is worth the cost of ensuring “a very evil country” could not have a nuclear weapon.
According to data compiled by Nate Silver for his Silver Bulletin, the president had a net approval rating of -19.5 as of Tuesday. At the same stage in his first term, Trump was at -13.
For the first time in years, an August Reuters/Ipsos poll found that more voters (37 percent) thought Democrats would do a better job managing the economy than Republicans (36 percent). Another 27 percent were unsure.
SOURCE: https://www.newsweek.com/gas-prices-to-see-staggering-increase-across-multiple-states-12448728
