Amid the military actions against Iran by the United States of America and Israel. Gas prices are expected to have a huge increase due to the conflict. According to the retail price tracker GasBuddy, there has not been an increase in gas prices since last November, and it is expected to change very soon.
North of Iran lies the Strait of Hormuz. The Strait is a passage connecting the Persian Gulf to the Gulf of Oman and the open seas. Around 20% of the world’s oil is transported through the Strait of Hormuz. On March 2, an Iranian Revolutionary Guard senior officialtrait of Hormuz had said that the S been closed and warned that Iran would shoot down any ships that tried to pass through. About 10% of the ships passing by the Strait have reportedly been shot by Iran. Many ships immediately stopped using the Strait for safety reasons. 20 million barrels of oil pass through there per day. Already, overnight on March 3, the price of gas increased by 11 cents.
Right now, the price for gas in LA County is around $4.802 per gallon. The highest since 2022, when the pieces were $6.483 due to the effects of Russia’s invasion of Ukraine. The average Californian was already paying more for gas than everyone outside of the state. Many refiners were already planning to switch to producing California summer blend gas during the hot summers. This would increase prices by 15 cents. California is expected to be affected more than other states.
This will affect many people, especially Uber and delivery drivers. The full-time worker will spend about $600 to $1,200 per month. They will be expected to spend even more gas in the upcoming weeks. President Donald Trump claims the current conflict will last 4 to 5 weeks, but many officials believe it will last much longer. As long as the Strait of Hormuz stays unsafe, not many ships will go through, and a lot of oil won’t be delivered on time. The price of gas will continue to rise in the coming weeks, with no official end date for the conflict. Before the price increases, many Californians have already rushed to fill up their tanks as much as they can, before the prices cost even more than they do now.
