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Iran Conflict Fuels Oil Prices, Sparks Inflation Surge

3/13/2026

48 8 Full Breakdown

Summary

Story summary

Ongoing war in Iran has driven a rise in oil prices.
Gasoline prices now average $3.58 per gallon, up from $2.98 before the conflict.
Higher fuel costs are expected to push inflation from 2.4% to about 3% in coming months.
Diesel prices have reached $4.83 per gallon, raising costs for transporting goods.
Experts warn that sustained high oil prices could lift grocery costs and trigger job cuts.

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Story summary

Ongoing war in Iran has driven a rise in oil prices.
Gasoline prices now average $3.58 per gallon, up from $2.98 before the conflict.
Higher fuel costs are expected to push inflation from 2.4% to about 3% in coming months.
Diesel prices have reached $4.83 per gallon, raising costs for transporting goods.
Experts warn that sustained high oil prices could lift grocery costs and trigger job cuts.