{"id":71001,"date":"2026-03-18T22:17:10","date_gmt":"2026-03-18T22:17:10","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/gas-prices-rise-as-oil-hits-111-a-barrel\/"},"modified":"2026-03-18T22:17:10","modified_gmt":"2026-03-18T22:17:10","slug":"gas-prices-rise-as-oil-hits-111-a-barrel","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/gas-prices-rise-as-oil-hits-111-a-barrel\/","title":{"rendered":"Gas prices rise as oil hits $111 a barrel"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>Gasoline prices in the U.S. jumped on Wednesday, as the <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/us-iran-tensions\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">Iran war<\/a><\/span> continues to take a toll on energy infrastructure in the Middle East and slow shipping in the <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/strait-of-hormuz-iran-oil-prices-us\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">Strait of Hormuz<\/a><\/span>.<\/p>\n<p>Drivers now pay an average of $3.84 per gallon, up from $2.92 a month ago and the highest level since September 2023, according to data from AAA.\u00a0<\/p>\n<pre><div style=\"min-height:480px\" id=\"datawrapper-vis-VKUkr\"><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/VKUkr\/full.png\" alt=\"Gas prices over time (Line chart)\"\/><\/div> <amp-iframe width=\"100\" height=\"100\" layout=\"responsive\" sandbox=\"allow-scripts allow-same-origin\" resizable=\"\" src=\"https:\/\/datawrapper.dwcdn.net\/VKUkr\/\"> <\/amp-iframe> <\/pre>\n<p>Diesel prices are also surging as the war constricts global oil supplies. On Tuesday, <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/diesel-prices-5-dollars-gallon-economic-impact\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">prices topped $5 a gallon<\/a><\/span> for the first time since 2022. Diesel now top $6 ia gallon in California, Hawaii and Washington, according to <a href=\"https:\/\/gasprices.aaa.com\/state-gas-price-averages\/\" target=\"_blank\" rel=\"nofollow noopener\">AAA<\/a>.<\/p>\n<h2>Brent hits $111 a barrel\u00a0<\/h2>\n<p>Gas prices are rising due to the surge in crude oil, which in the U.S. accounts for <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/iran-war-gas-prices-gallon-crude-oil-chart\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">51% of the cost<\/a><\/span> of a gallon of gas. A barrel of Brent crude, the international benchmark, has surged from roughly $70 per barrel just before the U.S. and Israel attacked Iran on Feb. 28 to as high as $111.45 on Wednesday afternoon, according to FactSet. The price for a barrel of benchmark U.S. crude rose to $99.24.<\/p>\n<p>Crude has soared and swung rapidly in recent weeks, due to supply chain disruptions and cuts from major producers across the Middle East. Iran on Wednesday\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/live-updates\/iran-war-us-israel-persian-gulf-strait-of-hormuz-trump-netanyahu\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">threatened to attack<\/a><\/span> oil and gas infrastructure in Qatar, Saudi Arabia and the United Arab Emirates after claiming that some of its gas fields and related infrastructure were targeted.<\/p>\n<p>Patrick De Haan, a petroleum expert at GasBuddy, suggested markets could shrug off concerns about escalating violence in the Persian Gulf as they wait to see if Iran follows through on its threats.<\/p>\n<p>&#8220;Will Iran follow up and what does that look like, and how the U.S. might respond \u2014 that would be baked into the price of oil,&#8221; he said.<\/p>\n<p>The White House has recently taken actions to ease energy prices. On Wednesday, President Trump issued a <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/jones-act-trump-waiver-60-days-iran-war\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">60-day waiver<\/a><\/span> of the Jones Act, a law that requires goods shipped between American ports to be carried on ships that are U.S.-built, -flagged and -crewed.\u00a0<\/p>\n<p>But De Haan called the measure a &#8220;band-aid&#8221; solution that was unlikely to sharply reduce gas prices, saying that oil markets are more focused on the risks in the Strait of Hormuz.<\/p>\n<section class=\"content__body--footer\">\n<\/section>\n<p>  <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation  \">\n<p><h3 class=\"component__title\">More from CBS News<\/h3>\n<\/p>\n<div class=\"component__item-recirc-block\">\n<p><h3 class=\"component__title\">Go deeper with The Free Press<\/h3>\n<\/p><\/div>\n<\/aside>\n<section class=\"content__body--footer\">\n      <!-- tags --><\/p>\n<section class=\"content__tags\">\n<p class=\"content__tags__label\">In:<\/p>\n<\/section>\n<\/section><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/iran-war-gas-oil-prices-brent-west-texas-intermediate\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gasoline prices in the U.S. jumped on Wednesday, as the Iran war continues to take a toll on energy infrastructure<\/p>\n","protected":false},"author":1,"featured_media":71002,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[157,1528,1057],"class_list":["post-71001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us","tag-donald-trump","tag-iran","tag-oil-and-gas"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gas prices rise as oil hits $111 a barrel - World News<\/title>\n<meta name=\"description\" content=\"A barrel of Brent crude topped $111, while the U.S. benchmark also rose as the Iran war intensifies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/site.itshrt.com\/worldnews\/gas-prices-rise-as-oil-hits-111-a-barrel\/\" \/>\n<meta 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