The escalating tension in the U.S.-Iran war has rattled the global energy market, with supply chain disruptions leading to sharp increases in oil prices throughout markets as uncertainty looms over the Strait of Hormuz.
The same disruption has resulted in unprecedented levels of hikes in gas and diesel prices at pumps across the U.S.
Amidst the volatility, GasBuddy analyst Patrick De Haan, in a conversation with Benzinga, said that de-escalation was the only way to lower costs.
Gas Prices Will Rise in the Coming Weeks Gas prices could continue rising for the next week or two and could see a 5-15 cent rise in prices, De Haan said when asked what consumers could expect in the immediate future.
Read Also: Iran's Parliament Speaker Says He Recognizes American Tactics as Trump Orders More Strikes "Beyond that, it’s contingent on any developments between the U.S. and Iran," he said.
