Gas prices in Phoenix rise with Iran conflict. Here’s how much

As military conflict and violence spread throughout the Middle East, fuel prices are rising in Arizona.

The current high rates at the pump could increase for Arizona consumers because of the widening conflict after U.S. and Israeli forces fired missiles at Iran, analysts and local experts said.

Strikes began Feb. 28 in a campaign that has spread across the region. Iran’s retaliatory drone and missile strikes have targeted U.S. military bases, Israel and neighboring Gulf states.

Although AAA spokesperson Julian Paredes said a boost in gas prices is normal during the spring break season as refineries switch to a costlier-to-produce summer blend of gas, he added the conflict is not a positive contributor to what consumers pay.

Why did gas prices go up?

The conflict had lifted crude oil prices by about 6%, according to Paredes.

“The cost of oil is the biggest way a conflict all the way in Iran can impact Arizona,” Paredes said. “Oil prices are global, and (oil is) the biggest ingredient for gas. So, if oil prices are high, gas prices will be higher for everyone.”

Brent crude, a global oil benchmark, reached $82.37 a barrel by March 2, its highest level in more than a year, according to MarketWatch data.

“It’s not a guarantee that prices will spike,” Paredes said. “But generally speaking, a protracted conflict will not be great for gas prices.”

Are prices going up because of Iran?

Among Iran’s reported targets are the Ras Tanura refinery, which was hit March 2, leading to the shutdown of some operational units.

Meanwhile, the world’s largest liquefied natural gas producer, QatarEnergy, halted production after its facilities were attacked by Iranian drones, according to reporting by the Qatar-based Al Jazeera.

Disruptions to tanker traffic through the Strait of Hormuz, where about 20% of the world’s daily oil supply streams out, were spurred after Iran restricted traffic following the conflict with the U.S. and Israel, according to Reuters.

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March 1 footage from near the waterway showed a tanker ablaze after being struck by a projectile, according to Al Jazeera. An excess of 150 ships anchored down rather than entering the strait, Al Jazeera reported. A U.S.- flagged tanker was damaged in an Iranian attack on a Bahrain port, leaving one shipyard worker dead, U.S. Naval Institute News reported.

“Gas prices are unpredictable even under normal conditions,” Paredes said. “Add a war like this situation in Iran, and it’s impossible to say exactly where gas prices will go in the future.”

What has Trump said about gas prices?

On March 2 at the White House, U.S. President Donald Trump said the conflict was expected to last four to five weeks but could “go far longer than that.” Trump told Reuters on March 5 that he did not “have any concern” on gas price increases.

What are gas prices for Phoenix?

As of March 6, average regular gas prices in Phoenix proper were $3.95 per gallon, according to figures listed by AAA. This is about 45 cents more than the average price a week prior, according to AAA.

Arizonans paid an average of $3.32 per gallon as of March 2, about a dime higher than the week before, Paredes said. This is about 37 cents more than the average price a year ago, according to AAA.

What is the gas price at a Sam’s Club in Phoenix?

The Phoenix West Sam’s Club store, located at McDowell Road and 83rd Avenue, listed its unleaded gas at $3.59 per gallon on March 6, according to the retailer’s website.

Reporting by Jose R. Gonzalez and Rey Covarrubias Jr., Arizona Republic