American drivers could face higher gasoline prices if the latest fighting between the United States and Iran continues to disrupt Middle Eastern oil shipments.
Crude prices surged Wednesday after President Donald Trump threatened a forceful response to an attempted Iranian missile attack on U.S. forces. Brent crude, the international oil benchmark, gained 7.9% to close at $90.74 a barrel. U.S. West Texas Intermediate crude rose 6.6%, settling at $84.46 a barrel, according to CNBC.
If oil remains expensive or supplies tighten, drivers may eventually pay more for gasoline. You can offset any increase to some extent with the right cash-back app.
Iran’s attack ended a pause in fighting
Iran’s Islamic Revolutionary Guard Corps launched ballistic missiles in what U.S. Central Command described as an attempted surprise attack on American forces. CENTCOM said the missiles were intercepted successfully. Axios reported that the attack targeted a U.S. military base in Jordan.
Trump told Fox News that the United States would respond forcefully and hit Iran hard.
The exchange ended a brief pause that had raised hopes of renewed diplomacy. Oil prices had fallen earlier in the week as traders considered the possibility of another ceasefire.
Two critical oil routes are under threat
The conflict could further restrict oil shipments through the Strait of Hormuz and the southern Red Sea.
Iranian forces have repeatedly attacked tankers in Hormuz, while Iran-aligned militias have targeted Saudi oil facilities. Houthi forces in Yemen also said they struck a pipeline carrying oil to Saudi Arabia’s Yanbu terminal and claimed attacks on two Red Sea tankers.
Those threats matter because Saudi Arabia has relied more heavily on the Yanbu route as shipping through Hormuz has become more dangerous.
Ryan McKay, senior commodity strategist at TD Securities, said markets had become too optimistic about peace and warned that reduced oil flows could support higher prices. Helima Croft of RBC Capital Markets also doubted the brief pause would produce a diplomatic breakthrough or restore normal shipping.
What American drivers should watch
Oil prices could retreat if fighting eases and ships resume normal operations. They could also climb further if attacks reduce exports or cause tanker operators to avoid the region.
Drivers planning long trips may want to leave more room in their fuel budgets. Comparing nearby stations, combining errands and using gas cash-back apps like Upside could soften the impact if pump prices begin climbing.
Upside is a free app that pays you real cash — up to 25¢ a gallon — at stations you already use, including Shell, BP, and Exxon. Claim an offer, pay with your usual card, and the cash back lands in the app. It stacks on top of your credit card rewards, and you can cash out to PayPal, your bank, or gift cards. If your family has two cars, cash adds up even faster. Start earning on your next tank.
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