"The American Automobile Association (AAA) reported on Friday that the average price for a gallon of regular gas in New York City rose by about 31 cents over the last week from $2.988 on Feb. 27 to $3.296 as of March 6. Diesel prices also surged 39 cents in one week, from $4.20 to $4.59 per gallon."
"Iran is not only one of the world's largest oil producers but is also located near the Strait of Hormuz—the narrow waterway linking the Persian Gulf to the Arabian Sea used by tankers around the world to access other oil-rich nations in the Middle East, including Iraq, Kuwait, Qatar, Saudi Arabia and the United Arab Emirates."
"After the attack was launched, Iran's regime warned that any vessel attempting to pass through the Strait of Hormuz would be fired upon. The threat brought tanker traffic to a standstill, thereby reducing shipments of oil from the region, lowering the supply at oil refineries that produce gasoline and diesel."
Following U.S. and Israeli air strikes on Iran beginning February 28, 2026, gasoline prices in New York City surged significantly. The average price for regular gas rose 31 cents in one week, from $2.988 to $3.296 per gallon as of March 6. Diesel prices increased even more dramatically, jumping 39 cents from $4.20 to $4.59 per gallon. These increases affect trucking companies and consumers through higher transportation costs. The price spike stems from Iran's threat to fire upon vessels in the Strait of Hormuz, a critical waterway for global oil transport. This threat halted tanker traffic, reducing oil shipments from major Middle Eastern producers and constraining supply at refineries producing gasoline and diesel.
Read at www.amny.com
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