Gas prices in the United States have soared more than 20% since the U.S. and Israel launched coordinated attacks on Iran, and it’ll likely be a while until they return to pre-war levels, one analyst says.
Sen. John Hoeven, R-N.D., told Fox News on Saturday gas prices will decrease within weeks, but Patrick De Haan, the head of petroleum analysis at GasBuddy, shot down his prediction in a post on X Saturday: “Prices aren't likely to drop back fully down to pre-war prices until later this year, since seasonal factors will prevent a full drop back down.”
Gas prices reached a national average of $3.67 per gallon Saturday, the highest it’s been since spring of 2024, according to data from the U.S. Energy Information Administration. President Donald Trump has downplayed the rising costs at the pump, saying “if they rise, they rise” and arguing price spikes are “a very small price to pay” for safety.
Things will get worse before they get better, according to De Haan, who wrote in his newsletter Saturday he expects prices to soon reach a “minimum” average of $3.80 per gallon.
Trump, who repeatedly said on the campaign trail in 2024 that gas would be below $2 a gallon if he were to win the presidency, said March 6 prices will drop “very rapidly” when the conflict is over, but seasonal factors make that promise difficult to achieve.
Gas is most expensive in California, which had average prices of about $4.57 a month ago, according to AAA data. Now, it has risen nearly a full dollar to $5.48 a gallon. Three other states—Hawaii, Washington and Nevada—have average gas prices above $4.50, with all 50 states above $3.12.