From Yahoo Finance: 2025-06-16 11:55:00

Gas prices may rise modestly due to a 7% oil price spike following the Israel-Iran conflict. The national average is $3.14 per gallon, up $0.02 from last week. Analysts believe prices could increase by 10 cents per gallon in the next few weeks. Despite this, prices are expected to drop in the long term.

Traders are pricing in limited impact from the conflict as Tehran signals willingness to return to nuclear talks. Brent crude futures fell 4% to $71 per barrel, while West Texas Intermediate futures traded around $70 per barrel. Gas prices could increase by 10 cents per gallon in the coming weeks.

Analysts predict a drop in oil prices in the months ahead, with gasoline prices expected to decrease sharply by the end of 2025. Oil could reach $90 or even triple digits if the conflict escalates further or if key shipping routes are blocked. Iran targeting tankers in the Strait of Hormuz could impact oil prices significantly.

OPEC+ has been increasing output before the conflict. Year-to-date, oil prices are negative, with WTI down over 3% and Brent declining around 5%. The situation remains fluid, with potential for further price fluctuations depending on geopolitical developments.



Read more at Yahoo Finance: Gas prices to increase ‘modestly’ despite recent oil volatilty