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Gas Prices Surge 37% Post-Iran War, Insurance Hikes Loom

4/24/2026

40 6 Full Breakdown

Summary

Story summary

Drivers saw gasoline rise from $2.94 to $4.04 per gallon, a 37% jump after the Iran war began on Feb. 28.
Insurify says a 10% mileage cut would lower the average full-coverage premium to $2,209—$27 below the pre-war $2,236 estimate—while drivers would still spend $385 more on gasoline in 2026.
Vehicle-parts costs rose 4% year-over-year and 0.7% in March 2026, prompting Daniel Lucas of Insurify to warn of possible rate hikes.

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Story summary

Drivers saw gasoline rise from $2.94 to $4.04 per gallon, a 37% jump after the Iran war began on Feb. 28.
Insurify says a 10% mileage cut would lower the average full-coverage premium to $2,209—$27 below the pre-war $2,236 estimate—while drivers would still spend $385 more on gasoline in 2026.
Vehicle-parts costs rose 4% year-over-year and 0.7% in March 2026, prompting Daniel Lucas of Insurify to warn of possible rate hikes.