NASHVILLE, Tenn. (WTVF) — Renewed tensions from the war with Iran are already hitting drivers at the pump, with gas prices seeing their biggest overnight jump since May.
President Trump says the ceasefire is over, causing major delays for oil tankers and slowing traffic through the Strait of Hormuz, a critical route for global oil supplies.
The average price of gas in the U.S. is up 5 cents, bringing the national average to $3.88 a gallon.
Aixa Diaz, an AAA spokesperson, said the jump is worth monitoring but noted that crude oil prices remain relatively stable.
"A 5 cent overnight jump is something to watch, but because crude oil remains in the $70 a barrel range, that is a bit of comforting news because we haven't seen crude oil spike into the 80s or 90s, or even over $100," Diaz said.
Because refiners make gasoline with oil purchased in advance, it may take weeks for drivers to feel the full impact of higher oil prices in the U.S.
Tennessee drivers are seeing some relief compared to other states, with the average price sitting at $3.50 a gallon.
Experts will continue watching crude oil prices over the next few weeks to see if the renewed conflict causes prices to spike further.
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