The national average for a gallon of regular gasoline jumped nearly 27 cents since last week to $3.25. 
War-Related Spike
The AAA reports a Jump at the Pump spike in gasoline prices.
The national average for a gallon of regular gasoline jumped nearly 27 cents since last week to $3.25. The conflict in the Middle East has sent crude oil prices higher to the mid $70/barrel range. The recent increase puts the national average at the same price as it was in early April of 2025. Springtime typically sees higher gas prices as gasoline demand rises and summer-blend gasoline production begins. The last time the national average made a similar weekly jump was back in March of 2022 during the start of the Russia/Ukraine conflict.
At the close of Wednesday’s formal trading session, WTI rose 10 cents to settle at $74.66 a barrel. The EIA reports crude oil inventories increased by 3.5 million barrels from the previous week. At 439.3 million barrels, U.S. crude oil inventories are about 3% below the five-year average for this time of year.
National Average Prices
- Today: $3.251
- One Week Ago: $2.983
- One Month Ago: $2.891
- One Year Ago: $3.107
$WTIC West Texas Intermediate Crude
Oil spiked to 82 then settled at 78 on news Trump is looking for solutions.
Shipping Rates for Liquid Natural Gas
$200 Oil?
India May Turn Back to Russia
Bahrain Petroleum Company
Trump Flashback
“Think of it: We’ve spent $8 trillion in the Middle East, and we’re not fixing our roads in this country? How stupid — how stupid is that? And we’re not fixing our highways, our tunnels, our bridges, our hospitals even, our schools even? It’s crazy.”
Donald Trump, 4/30/2020
A War Without a Strategy
Not Going to Start a War
Don’t Worry, It’s Not a War
Three Amazon Data Centers Hit
I’m sure glad this isn’t a war. Who knows what might happen then.
Just chill until there’s an actual war.
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Trump says prices will come back down. OK when?
March 5, 2026: Trump Wants Role in Picking Iran’s Next Leader. Questions Abound
OK, how is this supposed to work?
Is this the same Donald who promised the late Sheldon Adelson in 2016 that he would be the best friend Israel ever had if he was elected president? Sheldon and his wife Miriam became the among the largest donors to the Trump campaigns in 2016, 2020 and 2024. Money talks.
“Trump Looks for Remedies”Maybe the Porcine Pædophile Protector should have thought this through before launching a war under the name: Operation Epstein Shield.
Lots of funny remarks. Thanks for the laughs, guys and gals. It’s too stressful otherwise.
Your spot on. We have a uniparty. Democrats represent the very wealthy educated and the Republicans are the lower middle class. They basically switched narratives.
The poverty people are still democratic but are realizing the Dems have kept them in poverty.
But,
They all like to spend money.
They all like to get rich while in congress
The lower middle class votes for republicans, but republicans represent the ultra wealthy, same as the democrats.
Operation AIPAC Fury
There is a talk that Washington is going to investigate fertilizer prices as cartel is suspected. Probably not a Mexican drug cartel but US fertilizer cartel.
First, several administrations alowed oligopoly of Mosaic and Nutrien to develop. Mosaic itself controls 70% of granular MAP/DAP production capacity in the US (acc. to AI).
Biden imposed countervailing duties on Moroccan and Russian fertilizer imports.
Trump imposed reciprocal tariffs on all imports. Great.
Trade war with China resulted in zero US grains and soya exports to China until recently which damaged US farmers.
Trump started war in Persial Gulf which shut down Hormuz Strait through which 20% of fertilizers are exported and around 50% of sulphur (needed for phosphate fertilizers).
Now the Washington clowns are looking for some one to blame for problems of US farmers.
Mosaic and Nutrien will pay a fine to the Treasury, Treasury will pay the US farmers.
Like Merry goes round in a circus.
Why should anybody invest in fertilizer industry in the US?
Got a Prius?
I’ll do just fine in my F150… I put about 600 miles a year on it.
People try to fill the gaping hole in their souls by driving frantically between places they don’t need to be.
I got a Schwinn. No Gas? No Grid? No problem.
If ExxMob refuses to instantly invest 100s of billions in getting an instantaneous and mighty flow of oil out of Venezuela, Trump will send an aircraft carrier group to the Gulf of America and start bombing the Woodlands. I know. Sounds crazy. The Confederate Air Force is available and close by. B-17s, Liberators.
Well Trump will have a say in who is the new CEO of ExxMob.
Once we liberate Cuba we can offer cigars to the Iranians for a ceasefire.
Whodathunk there would be effects on oil prices from what is essentially an illegal sneak attack in the Gulf.
This is top level stupidity
Iran was not a threat to us, but on the other hand, they didn’t do anything to us. So we had to attack.
Trump has lifted sanctions on Russian oil already stored in tankers; “allowing” India to buy that oil.
Modi must have called him to let him know he had no choice but to start buying from Russia again.
As I mentioned earlier, India was first to be impacted by a lack of shipments from the Persian Gulf.
Expect more work arounds.
Apparently that is around 48 mb. Enough to offset 3 days of lost Persian Gulf shipments.
The ongoing experiment in humanity’s only planet’s sky is astounding in its enormity.
Trump must have a bunch of sycophants around him. Does he not realize if this continues oil and natural gas will set all time records? Trump will have to tell his buddies in the oil and gas industries to halt exports akin to what Chia did with refined products like gasoline and diesel. The screaming from the petroleum lobby will be legendary. The markets will force US and Israel to halt military activities quite soon.Whether Iran chooses to follow suit remains to be seen.
Iran already rebuffed Trump’s entreaty (through Italy) for a ceasefire.
I am not making this up: Cabinet meetings start with them going around the table and having each attendee tell him how awesome he is.
It’s pathetic.
Gas in the midwest has taken a strong jump.
Up 55 cents at my favorite pump
Gee thanks BiBi and Drnald
So does this mean no rate cuts? Lol!
When’s that next FOMC meeting again?
And will someone please think of all those thirsty F150’s in those rural areas. How much fuel does a farm use? Who’s gonna pay for all that gas? Is China buying soybeans yet?
How long before the global economy collapses ushering in the New Great Depression?
You reap what you sow MAGA! Enjoy the golden age.
Food prices are going to do something nobody alive in this country has ever seen.
Trump administration is scrambling to manage the fallout of the Iran war: The Pentagon is requesting additional intelligence officers for at least 100 days, suggesting the war could last far longer than the initially suggested four-week timeline. Officials say planning was limited. There’s talk of “through September.”
How long did Iraq and Afghanistan last? The only way to foreshorten it is to lose quickly.
Through September matching the Israel election date.
President Trump said there would be pain, and we agreed to bear it. Don’t complain now. Get ready for more pain.
Where? Where in the infinite spew of garbage and lies that fly out of this child raping pig did he say that? Just a link to a tweet, a video, a quote?
(And once again, there came no reply)
I sure as hell thought this was a bad idea and did not agree to bear it. You have no idea what is coming if this goes on thru Sept.
Nobody “agreed to bear it.” That’s bullshit.
What Trump actually said
We’ve spent $8 trillion in the Middle East, and we’re not fixing our roads in this country? How stupid — how stupid is that? And we’re not fixing our highways, our tunnels, our bridges, our hospitals even, our schools even? It’s crazy.
Exactly!
It’s not a war. Wars are declared by Congress after all, so it CAN’T be a war until they say it’s a war. Very creative.
It’s a (take your pick)
Explosive Recreation
I think when you torpedo a ship in international waters its a war
A ship devoid of weapons is what I heard.
Special Military Operation says Putin
Donnie I know a start to the fix….resign now
Brothers! Did HE not say unto us during the first Golden Age, that Affordability is a Hoax? Yet I hear querulous, peevish voices, like unto that of the evil Liberal!
For shame. FOR SHAME.
HE has spoken, and therefore it is SO!
REJOICE BROTHERS!
It’s all worth it to own the libs! Who needs a fancy house, car, food, electricity and healthcare? What’s important is to own the libs! /s
Here is a great Substack writer with an oil related post:
The biggest problem all those countries is going to face is massive unrest due to starvation as the oil runs out and they can’t buy food.
Egypt got a taste of that a few years ago during their Arab spring in the early 2010s. It happened at the EXACT moment Egypt demand for oil exceeded it’s ability to produce enough for domestic use and export the rest for food.
Wanna see a future nightmare? Look at Nigeria. A place a fraction of the size of the US is expected to have the population of the US in a couple decades. Yet a few decades ago (the 70s) the population was a fraction of the US total. What happened was oil was found and so suddenly the population was fed and it exploded the fertility rates. When the oil runs down there will be hundreds of millions of starving people there.
Don’t worry, 80 million geezers are about to die off, plenty of open slots for those Nigerians, someone just needs to open the door. I wonder who that’s going to be?
Once the geezers die off why would the young people who are left want to import more young people?
It would be like sharing a bedroom with your brother and when he finally moves out of the house you bring in a roommate.
I suspect the young will be more than happy to have a country with fewer people in it which means more for each of them.
I don’t buy the lack of food. We have heard that narrative so many times. The US grows 30% more corn and wheat than it needs and could plant more because there is spare capacity not bein used because prices are so low.
Brazil will just cut down some more trees and grow more corn and send to Africa. LOL
Gas Already Over a Dollar Higher – From $2.19 two weeks ago – To $3.29 Yesterday – Colorado
Stop complaining. Gas is $5-$6 in CA!
On a percentage basis it’s jumped WAY higher in Colorado at 50% vs a mere 20% in Cali.
Besides your high prices are all due to your state government so it’s very hard to feel sorry for you over paying all these years.
Move to a real state, soy boy!
I have been watching the strait of Hormuz on MarineTraffic. I saw one ship carrying asphalt get through today. That’s it. There is no indication that any ships will be moving oil anytime soon.
Oil fields throughout the region are being shut down as all available storage has now been filled.
Qatar has shut down its LNG facilities that supply almost 20% of global LNG. It will take a month or two to restart those facilities once they decide to bring them back online again.
The longer the strait is shut down, the greater the damage to the global economy.
We are lucky in the US. Our biggest problem will be higher prices for oil and gas related products. A small problem but that will be enough to put pressure on Trump to “do something”!
I’ve been watching the profits roll in and they keep rolling in. Trump is a chump but the volatility is awesome for profits.
Bahrain refinery went kaboom! Every time a drone flies the cash register rings. I feel so guilty that I’m going to have to help some people out with all the money rolling in.
Any ideas?
There are plenty of worthwhile charities and organizations worth supporting. Choose the ones that mean the most to you.
I have been taking some profits for a few weeks now. Sitting on 50% cash at the moment. I don’t expect the situation to continue for too long and will buy many names back when they come back down. Still like the long term outlook for energy. We cannot live without it.
Over $5 a gallon here in Los Angeles. Was under $4 last week.
Not here in the conejo valley. It was $4.70 last week and it’s now $5.30
Weren’t you bragging about how Trump dropped the prices of gas a few months ago?
.50 overnight in D/FW Texas
just under $3