U.S. Fuel Prices Surge as Iran Conflict Disrupts Oil Markets

TDT | Manama

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Fuel prices across the United States have surged sharply amid the ongoing conflict involving the U.S., Israel, and Iran, which has disrupted global oil exports and pushed crude prices above $90 per barrel. The spike in energy costs is emerging as a potential political challenge for the administration of Donald Trump ahead of the upcoming U.S. congressional midterm elections in November.

Gasoline and diesel prices rose by more than 10 percent this week as global oil markets reacted to tightening supply concerns linked to the conflict. The increase has added further pressure on American consumers already grappling with persistent inflation.

In an interview with Reuters on Thursday, Trump downplayed the rise in gasoline prices, saying, “If they go up, they go up.”

During his campaign and early in his second term, Trump pledged to lower energy costs and expand oil and gas drilling across the United States. However, his presidency has been marked by market volatility and policy uncertainty, including tariff changes and geopolitical tensions that have influenced global energy markets.

The United States remains the world’s largest oil producer and a major exporter, but it also imports millions of barrels of crude oil daily because it is the world’s largest oil consumer.

According to data from the American Automobile Association, the national average price for regular gasoline reached $3.32 per gallon as of Friday, up 11 percent from the previous week and the highest level since September 2024. Diesel prices climbed even more sharply to $4.33 per gallon, marking a 15 percent weekly increase and the highest level since November 2023.

Drivers in parts of the Midwest and the South—including several states that supported Trump—have experienced some of the steepest fuel price increases since the conflict with Iran began. Analysts say continued instability in the region could keep global oil prices elevated in the coming months.