Analysts Say Gas Prices Are about to Take a Big Jump

The effects of the U.S.-led war on Iran are about to intensify in the form of huge jumps in the prices of gasoline and diesel, analysts predict. Despite the Trump administration's assurances, a new and potentially even more economically damaging phase of the war may be about to begin.

The national average price for regular gasoline stood at $4.44 on Thursday, according to AAA, with a range of $6.09 in California to $3.92 in Indiana. That’s still below the all-time national record of $5.02 in June 2022. But diesel, which has a big influence on trucking and retail prices, has continued to hit records, with the national average at $6.40 on Thursday. In California, diesel is averaging $8.35.

The cost increases are landing particularly hard in several political battleground states in the Midwest, where prices jumped as much as 25 cents per gallon overnight, according to AAA.

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