Gas Prices Surge Amidst Iran Conflict, Raising Concerns for Trump’s Re-Election

The national average price of gasoline in the United States has risen sharply in early March 2026, reaching $3.262 per gallon – the highest level recorded during President Donald Trump’s time in office. This surge is directly linked to escalating tensions and the de facto closure of the Strait of Hormuz due to the ongoing conflict with Iran, disrupting global oil supplies and triggering price increases at the pump.

Iran War’s Impact on Oil and Gas Prices

The conflict began with joint U.S.-Israeli airstrikes against Iran, prompting retaliatory strikes and widespread disruption to oil supplies. West Texas Intermediate (WTI) Crude, the U.S. Benchmark, jumped from $67 per barrel on February 27th to over $84 per barrel a week later, marking at least a 16% weekly increase – the largest since the Russian invasion of Ukraine in 2022. Oilprice.com reports that this price spike is compounded by the seasonal shift to more expensive summer-grade gasoline.

Rising Prices Across the Nation

As of late Thursday, March 6th, 2026, the national average gasoline price reached $3.262 per gallon, according to GasBuddy data. The number of U.S. States with average gas prices exceeding $3 per gallon has increased dramatically, from approximately eight on Sunday, March 1st, to 33 by Thursday, March 6th, and is projected to reach 40 in the coming days.

Diesel Prices As well Soar

The impact extends beyond gasoline, with diesel prices experiencing even more significant increases. The U.S. National average price of diesel soared to $4.124 per gallon, the highest level since December 2023. This is attributed to tighter diesel markets and physical disruptions caused by the Middle East conflict, including drone attacks on a Saudi refinery and production adjustments in Qatar.

Political Fallout and Consumer Reaction

President Trump, who campaigned on lowering the cost of living and avoiding foreign entanglements, is facing criticism as gas prices rise. Voters who supported Trump based on his promise to lower prices are now experiencing the opposite effect. The Independent reports that the average gas price in the U.S. Rose from $2.975 on February 24th (the day of the airstrikes) to $3.198 on March 4th. GasBuddy predicts further increases of 10 to 30 cents per gallon in the next two weeks.

Trump’s Response

In an exclusive interview with Reuters on Thursday, March 5th, 2026, President Trump stated he was not concerned about the rising gas prices. Reuters quoted the president as saying, “If they rise, they rise.”

Looking Ahead

The duration and intensity of the Iran conflict will be the primary driver of future gasoline and diesel prices. Continued disruptions to oil supplies through the Strait of Hormuz will likely maintain upward pressure on prices. Consumers can expect continued volatility at the pump as geopolitical tensions remain high.