Iran Conflict Raises U.S. Gas Price, Oil Concerns

Gas prices in the U.S. are rising following recent U.S. airstrikes on Iranian nuclear sites, with national averages up about seven cents in the past week. The escalation of conflict involving Iran, a major oil producer, has increased concerns about potential disruptions to global oil supplies, especially if tensions threaten critical shipping routes like the Strait of Hormuz. Oil futures surged on the news, raising the possibility that prices could soon exceed $80 a barrel and sparking worries about inflation. While summer travel, hurricanes, and tariffs also play a role in price fluctuations, experts say the immediate risk is tied to the unpredictability of Iran's response. Analysts note that significant changes at the pump tend to lag shifts in crude oil prices, and for now, markets remain relatively stable. Despite social media claims, experts expect only modest increases in gas prices this summer unless the conflict broadens.