Geopolitical Tensions Continue to Drive Gas Prices Higher

(Undated) — Geopolitical tensions escalated on multiple fronts, pushing fuel prices higher. According to GasBuddy Head of Petroleum Analysis, Patrick De Haan, friction between the U.S. and Iran, new hostilities in the Red Sea, and the shutdown of Saudi Arabia’s East-West pipeline are all combining to jolt prices sharply higher. De Haan says new weekend attacks also knocked two additional Russian refineries offline, further straining global refined product supplies and likely offsetting any seasonal relief. He says while most of the country transitions to cheaper winter-blend gasoline this week, the scale of ongoing geopolitical escalations makes meaningful price relief unlikely in the near term and motorists should brace for continued volatility ahead. The current national average is $4.32 a gallon.