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What the Israel-Iran Conflict Means for Gas Prices
- Israel launched overnight airstrikes against Iran's nuclear and missile programs on June 14, 2025, sparking market worries about oil supply disruptions in the Strait of Hormuz.
- The attack follows ongoing tensions, with Iran a major oil supplier to China and repeated threats to block the Strait, which handles about one-fifth of global oil trade.
- Brent crude oil prices surged 7% on June 14 to $74.23 a barrel, while reports indicated Iran's oil facilities remained undamaged, tempering fears of physical supply loss.
- Analysts predict U.S. gas prices could rise 8 to 15 cents per gallon soon, though California’s diverse refinery sources may limit local impacts on pump prices.
- Sustained high energy costs could raise prices for transport, food processing, and manufacturing, but experts expect prices to moderate without actual shipping disruptions.
53 Articles
53 Articles
The price of crude oil is decisively determining what drivers pay at the gas station. Since Israel's attack on Iran, prices only know one direction.
Concern that a new inflationary cycle will open if fuel prices go out of control - What will happen to the fuel profit cap measure that expires on June 30?
By Matt Egan, CNN Israel's unprecedented attack on Iran raises the specter of sharply increased gas prices just as the summer driving season ramps up. Until now, prices at the pump have remained low and steady. Relatively low gas prices have helped curb inflation and offset consumer concerns about exorbitant fares. While gas prices tend to rise slightly during the warmer months when people begin their summer vacations, that has all changed since…
How the oil price is affected by the Israel-Iran conflict
Conflict Sparks Oil Surge: Safe Havens in Demand
Conflict Sparks Oil Surge: Safe Havens in Demand U.S. investors on Friday sought refuge in safe-haven assets like the dollar and gold as oil prices surged following Iran's military retaliation against Israel's unprecedented strikes.Explosions were heard in Jerusalem and Tel Aviv after Israel targeted Iran's Natanz nuclear site, raising fears of broader conflict. Investors worried about oil shipment disruptions saw crude prices spike by up to 14%…
Fingers crossed, analysts think gas prices will not spike after Israel hits Iran
California drivers may pay a bit more at the gas pump in the next few days after Israel’s military strike into Iran, but some fuel analysts don’t expect a dramatic surge in prices, and one thinks Golden State consumers may not see much impact at all. Denton Cinquegrana, chief oil analyst at OPIS, the Oil Price Information Service that provides data and forecasting on global energy, predicts gas prices across the country will rise about 8 to 10 c…
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- 65% of the sources are Center
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