Gas Prices Surge Amid Iran Conflict and Geopolitical Tensions
U.S. gas prices have risen significantly since the Iran conflict began, with prices spiking over $4 per gallon. Experts suggest that while crude oil prices are essential, multiple factors influence pump prices, and consumers may face prolonged high costs.
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As of early 2026, Florida's average gas price was $4.05 per gallon, having peaked at $4.23 earlier this month and up from $3.02 a year ago. The conflict involving the U.S., Israel, and Iran has disrupted oil supply, with crude prices exceeding $100 per barrel, impacting consumers directly.
While 20% of global oil supply originates from the Persian Gulf, the U.S. consumes only 7%. Taxes contribute an estimated 57.8 cents per gallon to gas prices, with Florida drivers facing significant tax burdens.
Diesel prices average $5.54 per gallon, up from $3.53 a year ago. The restoration of oil flows in the Middle East is uncertain, and while crude prices are expected to decrease, it may take time for those reductions to reflect at the pump.
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