Day: March 3, 2026

The price of gasoline in the United States rose only modestly on Monday, even as oil prices climbed in response to a widening conflict in the Middle East.

If the war drags on, though, that could abruptly change.

The U.S.-Israeli attacks on Iran, and Iran’s counterattacks, have started to limit the export of oil and gas from the region, pushing global oil prices higher. West Texas Intermediate crude oil futures, the domestic oil benchmark, jumped about 6 percent on Monday to just over $71 a barrel. (The international benchmark rose about 7 percent.)

But gas prices tend to take days or weeks to respond to rising oil prices as refiners pass on expenses. So a prolonged war is certain to result in higher costs at the pump.