Gas prices: ‘drastic and uncommon’
With the weather warming and road trip season upon us, demand for gasoline is on the rise — but so is the cost as the United States and Israel continue a war with Iran.
According to AAA, the average price for a gallon of gasoline has risen 50 cents during the past week as the U.S.-Israeli war with Iran pushes crude oil prices above $100 per barrel, the highest since 2022.
On Monday morning, March 9, crude oil prices hit over $100 per barrel according to the U.S. Energy Information Administration. They later fell back to the mid-$90 range in the afternoon.
“Oil today started trading at $100, which, two weeks ago it was trading in the $60 range,” AAA spokesman Jim Garrity said. “When crude oil goes up by just a few dollars, that has an impact on the pump. It is such a substantial part of what you pay when you fill up.”
The national average for a gallon of regular gasoline Monday was $3.47, according to AAA. It was $2.97 a week ago.
In Pennsylvania, the average price was also $3.47, according to AAA, but the average in Butler County was $3.75.
Garrity said while the war is the main driver as to why consumers are seeing higher gasoline prices, there are other factors at play as well.
“What is also happening this time of year is the typical seasonal uptick, which is driven by demand and the transition to summer-blend gasoline,” Garrity said. “What you are seeing with a nearly 50-cent increase over the past week is drastic and uncommon. The last time we saw a situation similar to this was in 2022, when Russia invaded Ukraine. What happened then was oil prices went up and gas prices followed. It's not as high yet, but we are seeing a similar situation play out.”
In the days immediately following the U.S. and Israel’s attacks on Iran, traffic quickly came to a near halt through the Strait of Hormuz, a key waterway through which about 20% of the world’s oil typically passes, according to NBC.
“For how high we go, it's all eyes are on crude oil,” Garrity said. “Even though we are not importing that Iranian crude oil, when there is a splash across the planet, the ripples make their way to us. There is a pinch in the crude oil supply, but it is a globally traded commodity.”
Garrity said once the war ends and crude oil prices return to normal, consumers shouldn’t have to wait too long to see lower prices reflected at the pump.
“It’s hard to say because there are other factors at play there with regards to shipping,” Garrity said. “I will say, when you see prices change in crude oil, you should see that price reflected in gasoline prices within coming days or weeks.”
Despite gasoline prices rising, Garrity said AAA data shows no indication consumers will cut back on leisure travel just yet.
“It is a big road trip time of the year,” Garrity said. “People are still coming into our travel agencies to plan trips this year. I would say if you are thinking about traveling, I would get in and lock in your price, because crude oil could still rise and that could impact your cost.”
Garrity said AAA members can download the AAA Auto Club App to check online for the cheapest gas in the area.
For non-AAA members, consumers can visit gasbuddy.com to find local gasoline prices.
