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Topline The average price for a gallon of regular gas has dropped below $3 in 25 states as of Sunday, though the escalating conflict between Israel and Iran in the Middle East could soon lead to higher prices, some industry analysts say. Israel launched attacks on Iran last week, raising concerns among investors about disruptions to the … More global oil trade. Getty Images Key Facts American drivers are paying about $3.13 for a gallon of gas on average as of Sunday, with prices below $3 in 25 states, including the lowest per-gallon average of $2.66 in Mississippi, according to AAA data. Oil prices rose last Friday after Israel attacked Iran: The West Texas Intermediate, a national benchmark for crude oil, surged by more than 7.2% to $72.98 per barrel while the global benchmark, Brent Crude, rose by 7% to $74.23 per barrel. Patrick de Haan, GasBuddy’s head petroleum analyst, said he expects national gas prices to increase between five and 15 cents “over the next week or two” in response to rising oil prices and Israel’s conflict with Iran, after earlier estimating an increase by as much as 25 cents per gallon. Oil prices could rise even farther if Israel and Iran’s conflict escalates, Ramanan Krishnamoorti, a petroleum engineer professor at the University of Houston, told ABC News, suggesting oil prices could substantially spike (up to $120 per barrel) if Iran’s oil infrastructure is damaged. If oil prices reached $120 per barrel, gas prices could increase to around $5.13 per gallon, Krishnamoorti said. Where Is Gas The Most Expensive? States in the western U.S. have the most expensive gas on average, according to AAA. California ranks highest, with an average price of $4.65 per gallon, followed by Hawaii ($4.47), Washington ($4.37) and Oregon ($3.98). Contra Richard Joswick, head of…

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Filed under: News - @ June 15, 2025 9:15 pm