The war with Iran could start impacting your wallet as soon as today.
Jim Garrity from AAA East Central says oil prices are up.
“They’re hovering around $72. They were pretty consistently around $65, $66 for a while,” he said.
Nationally, AAA said the average for a gallon of regular sits at about $3, up approximately six cents from last week.
In Pennsylvania, it’s around $3.12 a gallon, and in the Pittsburgh region, it’s around $3.24 a gallon. That’s actually down about four cents from last week.
Garrity added that gas prices this time of year would already be increasing, usually because of higher demand for the warmer months and the production of the summer blend of gas used for those months.
The impacts of what’s happening in Iran may not be immediate, which could be part of why our region and the state overall have not seen a spike yet, he said.
“It could be a couple of days later. It could be up to a week later,” Garrity said.
A lot of people are watching what happens with the Strait of Hormuz. Iran borders it to the north, and 20% of the world’s oil goes through it.
Iran is one of the world’s biggest oil producers, and China gets a lot of that oil.
“If there is an impact there, you could see oil start to come in from other parts of the world, which has a downstream effect on [the United States],” Garrity said.
One way you can save on gas if prices increase in our area is by slowing down.
“When you drive faster every five miles, over 50 miles an hour, your fuel efficiency is going down,” Garrity said. “You’re making the car work harder, making the gasoline consumption less effective.”
Garrity added that in 2022, when our area and many others saw some of the highest gas prices ever recorded, people changed their driving habits.
“We saw people make seemingly permanent changes to their driving behaviors, driving less in general, consolidating trips,” he said.
