Oil prices jumped after U.S.–Israel strikes on Iran, with Brent crude rising to about $77 per barrel, up sharply from a week ago. Gas prices are now averaging around $3 per gallon nationwide, and analysts expect another 10 to 40 cent increase as spring demand builds.

Diesel could climb even faster, potentially nearing $4 per gallon, raising shipping costs and adding inflation pressure across the economy. While much of the spike reflects market uncertainty, risks around the Strait of Hormuz and further escalation could keep energy prices elevated in the weeks ahead.