The average price for a gallon of gasoline jumped 11 cents overnight to about $3.11 in the US, according to motor club AAA. Gas prices were already rising before the US launched strikes on Iran as refiners switch over to summer blends of fuel, but crude futures have risen sharply this week because of the war. ADVERTISEMENTOn Tuesday, oil futures soared to levels not seen in more than a year as Iran launched a series of retaliatory attacks, including a drone strike on the US Embassy in Saudi Arabia. Benchmark US crude jumped 8.6% to $77.36 a barrel. Global oil prices jumped to start the week over concerns that the war will clog the global flow of crude.

Source: The Telegraph March 03, 2026 15:22 UTC