White House worried as gas prices jump amid US-Israel conflict with Iran
Mar 8th 2026
US gas prices jumped nearly 27 cents to $3.25 a gallon amid the US-Israel conflict with Iran, prompting White House officials to search for ways to limit pump-price pain as global oil risks rise.
- Average US regular gasoline rose about 27 cents in a week to $3.25 per gallon.
- The US-Israel conflict with Iran raised fears of oil disruptions after Iran effectively halted traffic through the Strait of Hormuz, a route for about 20% of world oil and gas flows.
- White House aides, including Trump chief of staff Susie Wiles, are reportedly seeking measures to lower pump prices amid pressure on officials, according to Politico.
- The US is forecast to produce about 13.6 million barrels per day in 2026, giving consumers partial insulation from global supply shocks, the EIA says.
- Brent crude passed $90 a barrel this week, and Gas Buddy says retail gasoline could rise another 20 to 25 cents per gallon if oil holds current levels.
- Economists estimate oil would need to hit roughly $125 a barrel, about $4.25 a gallon, to meaningfully slow US GDP and push inflation higher.
- Shale producers could raise output if prices persist above about $70 a barrel and could potentially add roughly 500,000 barrels per day over time.
- The US has been a net energy exporter since 2019 and could divert more crude to Europe if the Strait of Hormuz remains closed, which would help lower global prices.