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US gasoline prices are rising quickly as the oil market reacts to conflict in the Middle East. The national average for regular gasoline stood at about $3.32 a gallon on March 6, up 11% from a week earlier, while diesel reached $4.33 a gallon, up 15%.
West Texas Intermediate crude settled at $90.90 a barrel on March 6 after a sharp weekly jump, adding fresh pressure to fuel costs across the country.
Higher crude prices are the main reason pump prices are moving up. The Strait of Hormuz remains a critical route for global energy trade, and the US Energy Information Administration says about 20% of global petroleum liquids consumption moved through the strait in 2024. Any disruption there quickly tightens global supply and lifts benchmark oil prices.
The recent price move has been severe. US crude futures climbed 35.63% over the week to settle at $90.90 a barrel on March 6. Brent crude closed at $92.69. Analysts say refiners and traders have rushed to secure alternative supply as Gulf flows remain constrained. This shift has increased costs across the fuel chain, from crude purchases to wholesale gasoline and diesel.
Gasoline prices have not moved evenly across the country. Midwest and Southern states posted some of the steepest weekly increases. In Georgia, average gasoline prices rose 40.1 cents in a week, while Indiana and West Virginia also recorded large jumps. These regional moves show how quickly wholesale costs can pass through to drivers when supply worries hit the market.
Diesel prices are rising even faster than gasoline, and this is crucial for the broader economy. Diesel powers freight trucks, farm equipment, industrial machinery, and much of the transport system that moves goods across the US.
When diesel rises, businesses often face higher delivery and operating costs. Those increases can then feed into prices for food, furniture, and other consumer products.
Supply conditions for diesel were already tight before the latest conflict. EIA data shows distillate markets often face seasonal pressure during colder months because heating demand supports crack spreads.
In addition, global refining capacity has remained tight. Analysts say the current disruption has added to those existing strains, which helps explain why diesel has jumped above $4.30 a gallon nationally.
Jet fuel and other refined products are also exposed to the same supply shock. Reuters reported earlier this week that roughly 350,000 barrels per day of jet fuel and 900,000 barrels per day of diesel exports from the Gulf were at risk as tensions escalated. This creates broader transport cost risks even if gasoline stabilizes later.
Analysts say fuel prices could rise further in the near term if crude stays elevated and shipping disruptions continue. GasBuddy analyst Patrick De Haan said the national average for gasoline could climb toward $3.50 to $3.70 a gallon in the coming days under current market conditions. Seasonal factors could add more pressure because spring usually brings refinery maintenance and the shift to costlier summer-grade gasoline.
The next move will depend heavily on oil flows. If transit through the Strait of Hormuz improves, crude prices could ease and slow the rise in retail fuel prices. If disruptions persist, higher gasoline and diesel prices may last longer and weigh more heavily on household budgets and business costs.
Also Read: Why Is Gold Rising Today? Prices Touch $5,417 as US-Iran War Escalates, Oil Jumps 13%
