Gas prices jump as conflict expands in the Middle East

Gas prices across Minnesota averaged about $3 per gallon on Tuesday, a jump of about 17 cents per gallon since Monday. According to AAA.

This comes amid a state of uncertainty resulting from the expanding military conflict in the Middle East.

Gas prices in Minnesota are up more than 35 cents per gallon over the past month — and are now just a few cents higher than they were this time last year.

There is wide variation across the state, with AAA reporting average prices of about $3.10 a gallon in the Twin Cities on Tuesday — but only about $2.86 in Duluth and $2.75 in Moorhead.

The average price in Minnesota is still higher than neighboring states but is about ten cents less per gallon than the national average.

President Donald Trump acknowledged Tuesday that oil and gas prices will rise as the United States remains involved in the ongoing conflict in the Middle East, but said prices will fall once the war ends.

“We have oil prices that are a little bit high for a while, but once this is over, I think those prices will go down to a lower level than before,” Trump told reporters in the Oval Office.

Oil prices rose on Tuesday to levels not seen in more than a year as Iran launched a series of retaliatory attacks, including a drone strike on the US embassy in Saudi Arabia.

Iran also struck energy facilities in Qatar and Saudi Arabia, disrupting tanker traffic through the Strait of Hormuz, the narrow mouth of the Persian Gulf through which a fifth of all oil trade passes, sending global oil and natural gas prices soaring.

The effects of the US and Israeli strikes on Iran, and subsequent military operations in the region, occurred with gas prices already rising as spring approached.

AAA reported last week that switching from winter gasoline to summer gasoline — which has more expensive additives — typically causes prices to start rising in March.

The Associated Press contributed to this report.