GRAND RAPIDS, Mich. — Following weekend attacks on Iran, a GasBuddy analyst says it remains unclear how much the overseas conflict will affect prices at the pump.
“This is not going to be a record-setting jump,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “This is not the Russian invasion of Ukraine. Keep in mind, COVID was easing back in 2022 when that happened, and that caused prices to jump significantly.”
De Haan said gas prices have already risen for four consecutive weeks due to the seasonal switch to the more expensive summer fuel blend.
While the current conflict in Iran has not directly damaged oil infrastructure in the region, it has injected uncertainty into energy markets and will likely push oil prices higher — at least temporarily.
“Gas prices could, in a worst-case scenario, climb closer to $4 a gallon if there is significant action and long, sustained action in Iran,” De Haan said.
He added that if the conflict turns into a prolonged campaign with continued attacks, the impact on oil markets would likely be more severe, and higher prices could persist for an extended period.
As of 7 a.m. ET Tuesday, here’s what drivers are paying county by county, ON AVERAGE:
KENT COUNTY: $2.76/gallon
MUSKEGON COUNTY: $2.61/gallon
OTTAWA COUNTY: $2.70/gallon
KALAMAZOO COUNTY: $2.87/gallon
As these are county averages, you may see different numbers in your neighborhood.
