Gas prices keep rising Return to menuOil prices soared as war broke out, pushing the cost per barrel above $100 temporarily, and sending U.S. gas prices up. Higher prices from Persian Gulf oil are buoying prices for oil produced in the U.S., leaving American motorists reeling. President Donald Trump pegged his campaign and the first year of his presidency on a pledge to lower prices for Americans, and falling gas prices have been a key talking point for the administration. Snarled shipping routes promise higher prices Return to menuCargo container ship traffic through the Strait of Hormuz has ground to a near-total halt. Demand for air travel remains high, and airlines were able to raise prices when Russia’s invasion in Ukraine first sent oil prices soaring, TD Cowen analyst Tom Fitzgerald wrote in a note.

Source: Washington Post March 12, 2026 12:01 UTC