FRENSO, Calif. (KFSN) — Gas prices across the country have increased in the past week and are expected to climb even more after the recent joint U.S. and Israeli strikes on Iran.
“We are predicting a 10-30 cent per gallon increase on gasoline prices starting as early as today but no later than Wednesday,” GasBuddy Petroleum Analyst, Matt McClain explained.
Tensions in the Middle East have historically played a role in the price of gas here in the U.S. as the region ships nearly 20% of the world’s oil through the Strait of Hormuz.
“At this point, what it looks like is that there are a lot of tankers that have dropped anchor on either end of the Strait of Hormuz and simply not getting oil through,” McClain stated.
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GasBuddy experts say that hold up is driving volatility in gas prices.
According to it’s website, the national average price per gallon is $2.94, up around 5 cents from last week.
Wholesalers in the central valley, like Scott Cain, are feeling the pressure.
“If I’m seeing 30-40 cent price fluctuations in a day, that’s eventually what the customer is going to see as well,” West Hills Oil president Scott Cain said.
GasBuddy’s live gas price tracker showing changing prices throughout the day Monday, but as of the afternoon, it revealed Californians pay the highest average price per gallon at $4.60 and Fresno County customers pay an average of $4.49 a gallon…that’s up 10 cents from the day before.
“It’s a big impact in my pocket and everyone else’s pocket,” commuter Rafael said.
He commutes from Bakersfield, filling up in southeast Fresno, where a gallon of gas costs $4.31.
“I still have to work it’s really expensive, but I still need to move around and put gas,” Rafael added.
With uncertainty around the conflict in the Middle East, experts believe gas prices will remain volatile in the coming days to weeks.
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