Oil Prices Are Falling

March 11, 2026

TL;DR

U.S. motorists likely to face higher gas prices for several weeks.
Crude oil prices swung wildly, impacting gasoline pricing difficulties.
Gas prices have surged over 50 cents per gallon since the U.S. and Israel launched strikes on Iran.
Seasonal issues like warmer weather, increased driving, and the switch to more expensive summer-blend gasoline contribute to higher costs.
Security risks in the Strait of Hormuz, through which 20% of the world's oil supply travels, are keeping petroleum prices elevated.
Market sentiment is influenced by statements regarding a potential end to the conflict and increased protection in the Strait of Hormuz.
Iran's foreign minister indicated a willingness to continue attacks and ruled out talks with the U.S.

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