Gasoline Prices Surge Amid Global Geopolitical Tensions

Gasoline and diesel prices increased across every U.S. state over the last week, driven by a convergence of global geopolitical crises. National averages rose to $4.25 for gasoline, an increase of 17.2 cents, while diesel jumped 31.6 cents to reach $6.18 per gallon.

GasBuddy attributes the volatility to friction between the United States and Iran, hostilities in the Red Sea, and the shutdown of Saudi Arabia's East-West pipeline. Global supplies are further strained by recent attacks that knocked two Russian refineries offline. Local impacts have been severe in some regions, such as Peoria, Illinois, where prices surged more than 40 cents in one week to an average of $4.54.

While refineries are currently transitioning to winter-blend gasoline, analysts warn that ongoing international escalations make near-term price relief unlikely.