Rising gas prices remain a top concern for Americans amid a two-week ceasefire between the U.S. and Iran that was announced by President Donald Trump on April 7.
According to a new poll released April 7 by the Pew Research Center, 69% of Americans say they are concerned about facing higher gas and fuel prices if hostilities between the U.S. and Iran resume after the conclusion of the two-week ceasefire.
Among Democrats and people who lean toward voting for Democratic candidates, the poll found 79% identified rising gas prices as their top concern about the now-paused Iran War. Among Republicans and people who lean toward voting for Republicans, the poll found 59% said escalating gas prices were their top concern. The Pew Center said the survey was conducted March 23-29 among 3,507 U.S. adults.
“About seven-in-ten Americans (69%) are concerned about higher gas and fuel prices as a result of the U.S. military action against Iran, including 45% who are extremelyconcerned,” the group said. “Of the potential outcomes we asked about, this one worries Americans most.”
The findings also come as the national average gas price rose to $4.16 per gallon on April 8, according to the AAA Auto Club. That figure is up from a national average of $3.25 one month ago on March 8.
How Long for Gas Prices to Come Down if the Ceasefire Holds?
Patrick De Haan, head of petroleum analysis at GasBuddy, said oil and gas prices are already showing signs of coming down in the wake of the announcement of the temporary ceasefire between the U.S. and Iran.
“Gas prices could start reversing nationally in 48 hours or so- by a few cents every day,” De Haan said in an X post on the evening of April 7 after Trump announced the ceasefire agreement. “Diesel prices may lag slightly- but where things stand now, diesel is NO longer likely to reach a record. National average gasoline could fall below $4 in ~1-2 weeks, diesel >$5 in 6-8 weeks.”
De Haan added in an April 8 X post that there are already “huge drops in oil markets” and for now, he said lower fuel prices should be coming soon.
De Haan cautioned in an April 7 blog post that “markets remain highly sensitive to developments in the region.” He said short-term reductions in U.S. gas prices could reverse if hostilities between the U.S. and Iran resume after the temporary ceasefire.
“Until there is clear progress toward reopening the Strait or achieving a durable de-escalation, oil prices are likely to remain elevated and volatile, with geopolitical developments continuing to dominate market direction,” he wrote.
What Causes Variance in State Gas Prices?
Regional differences in gas prices can be explained by several factors, according to the U.S. Energy Information Administration:
- Differences in state and local gas taxes
- Distance from supply
- Supply disruptions
- Retail competition and operating costs
- Environmental programs
“Retail gasoline prices tend to be higher the further gasoline must be transported to the point of sale because transportation costs are higher,” the agency said.
“Anything that slows or stops gasoline production can result in increased bidding for available gasoline supplies,” the agency added. “Prices at gasoline stations are often highest in locations with fewer gasoline stations.”
Which States Currently Have the Highest Gas Prices?
California has the highest gas prices currently, with drivers there paying an average of $5.93 per gallon on April 8, according to the AAA Club.
Here are the five states where drivers are facing the highest gas prices:
- California
- Average gas price on April 8: $5.93
- Average gas price on April 1: $5.89
- Difference in price: 4 cents
- Hawaii
- Average gas price on April 8: $5.62
- Average gas price on April 1: $5.46
- Difference in price: 16 cents
- Washington
- Average gas price on April 8: $5.40
- Average gas price on April 1: $5.36
- Difference in price: 4 cents
- Oregon
- Average gas price on April 8: $5.01
- Average gas price on April 1: $4.96
- Difference in price: 5 cents
- Nevada
- Average gas price on April 8: $5.02
- Average gas price on April 1: $4.94
- Difference in price: 8 cents
This article originally appeared on USA TODAY: Gas Prices Top Americans’ Concerns About the Iran War Amid Ceasefire
Reporting by Keith Laing, USA TODAY / USA TODAY
USA TODAY Network via Reuters Connect
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