DFW drivers woke up to higher gas prices Tuesday after the U.S. military reinstated its naval blockade of Iranian ports, sending oil prices higher amid escalating tensions in the Middle East.
The national average for regular gasoline rose overnight to $3.86 per gallon, according to AAA data. In Texas, prices spiked about 25 cents in the past week, with the statewide average now near $3.41. Local DFW stations reported jumps of roughly 20 cents overnight, pushing some regular unleaded prices above $3.50 per gallon.
The blockade resumed Tuesday afternoon at the direction of President Donald Trump, following the collapse of a recent memorandum of understanding between the U.S. and Iran. U.S. Central Command confirmed more than 20 Navy warships and hundreds of military aircraft are operating in the region to enforce the action. The Strait of Hormuz, through which about 20% of the world’s traded oil passes, has seen renewed Iranian attacks on commercial shipping.
Crude oil prices surged more than 9% Monday, with Brent crude topping $83 per barrel. Analysts say continued volatility could push national gas prices back toward $4 per gallon in the coming weeks if the blockade disrupts supply flows.
The American Automobile Association noted that while Texas benefits from domestic production, global market reactions are driving the local increases. “Uncertainty in the Strait of Hormuz is rippling through to pump prices,” AAA Texas said in a statement.
Motorists are advised to shop around for the best prices and fill up before potential further increases. KRLD will continue monitoring gas prices and the international situation.
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