Gas prices in Central Texas have jumped more than $1 in a month as the Iran war disrupts oil supplies, pushing crude higher and raising the risk of further increases.

Oil prices spiked Tuesday as Iran intensified its attacks on energy infrastructure across the Middle East and a senior regime figure suggested that the crucial Strait of Hormuz wouldn’t become safe for ships anytime soon.

It’s a reprieve, for now at least, after oil prices spiked from roughly $70 before the United States and Israel began their attacks on Iran. In response, Iran has nearly halted traffic through the narrow Strait of Hormuz,

A drop in oil prices helped send the U.S. stock market to its best day since the war in Iran began. The S&P 500 climbed 1% Monday for its biggest gain in five weeks. The Dow Jones Industrial Average added 0.

President Trump said “oil prices are going to go down very, very rapidly” after the Iran war ends. “So will inflation,” he told the Kennedy Center board Monday. “Much more important than short-term, even long-term oil prices,

Brent crude oil is trading at about $106 per barrel as Gulf countries report more attacks by Iran with the war entering its third week.

The Iran war has caused oil prices to spike, leading gasoline prices to jump to their highest level since 2023. That has an outsized impact on lower-income households, exacerbating the so-called K-shaped economy,

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