Gas Prices Could Surge Past $4 amid U.S.-Iran War, Warns GasBuddy’s De Haan

FomoAnxiety · 2026-03-09T19:47:48+00:00

Gas prices in the U.S. have surged 16% to $3.478, with forecasts suggesting they could reach $4 soon. Rising fuel costs threaten both consumers and businesses, adding significant daily expenses amid increasing diesel prices.

FomoAnxiety

2026-03-09 19:47:48

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Average gas prices across the U.S. have surged by 16% over the past week to $3.478, although GasBuddy Head of Petroleum Analysis Patrick De Haan warns that consumers could soon see even higher costs at the pump.

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“I believe there is roughly an 80% chance the national average price of gasoline reaches $4 per gallon within the next month- or sooner,” he said. De Haan added that he expects gas to reach between $3.75 and $3.95 this week as the Strait of Hormuz remains effectively closed.

Higher Fuel Prices Threaten Consumers and Businesses

A one-cent jump in gas prices adds roughly $3.7 million in daily costs for Americans. With prices rising by about 50 cents over the past week, that equates to an extra $187 million in daily costs.

Diesel prices are also on the rise, with per gallon prices up by 22.9% over the past seven days. De Haan assigns an 85% chance that prices rise above $5. Rising diesel increases transportation and production costs and pushes up prices, straining consumers and reducing corporate profits in the process.

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