U.S. experts warn: If the fighting continues, gasoline prices will soon surpass the $5 per gallon mark.

Hot Topics

            Watchlist
            
            Data Center
            Market Snapshot
            Flow of Funds
            Simulated Trading
        

        Client

Source: CLS

CLS April 3 report (Editor: Liu Rui) The speech delivered by U.S. President Trump to the nation on Wednesday in Eastern Time dealt a significant shock to international markets—Trump vowed to carry out a more forceful set of strikes against Iran within the next two or three weeks, prompting global oil prices to rise rapidly.

At the same time, market experts said that with the U.S. entering the eve of the summer travel peak season, Trump’s remarks are expected to leave American consumers facing gasoline prices at record highs.

U.S. gasoline prices set to rise quickly

According to Patrick De Haan (Patrick De Haan), chief oil analyst at GasBuddy, a U.S. gasoline price tracking agency, Trump’s statements caused U.S. crude oil prices to jump by more than 10% on Thursday.

Since the start of this week, the U.S. average retail gasoline price has already surpassed $4 per gallon for the first time in four years, and is expected to rise to between $4.25 and $4.45 per gallon next week. And under the influence of Trump’s remarks, the upward momentum of U.S. gasoline prices is expected to accelerate further.

As of Thursday in Eastern Time, the U.S. retail gasoline average is $4.08 per gallon (Data source: American Automobile Association)

De Haan noted that if the Trump administration is unable to formulate a workable plan to reopen the Strait of Hormuz, the U.S. average retail gasoline price could very likely break $5 per gallon within a month and set a new high.

Tom Kloza (Tom Kloza), chief energy adviser at Gulf Oil, meanwhile said on social media that driven by the impact of Trump’s speech, the U.S. gasoline wholesale market has already started to rise on Thursday.

On Thursday morning in Eastern Time, gasoline prices in the markets of the U.S. Great Lakes region, the Great Plains, the Northeast, and the West Coast have already risen by 17 cents per gallon, while gasoline prices in the Gulf Coast markets have risen by 19 cents per gallon.

Diesel prices may also hit new highs

At the same time, De Haan said U.S. diesel prices are likely to reach a historic high within two weeks.

It is worth noting that although the rise in diesel prices is not directly felt as strongly by consumers, it actually has a greater impact on the U.S. economy because it is directly related to the costs of producing and transporting goods.

De Haan said that the nationwide average retail diesel price is expected to rise from $5.47 per gallon this Thursday to between $5.80 and $6 per gallon over the next two weeks. Previously, the record for the U.S. average retail diesel price was $5.83 per gallon in 2022.

Last week, a poll jointly conducted by U.S. TV network CBS and the YouGov company showed that against the backdrop of the conflict between the U.S. and Iran, most Americans expect oil and gasoline prices to rise both in the near term and the long term.

The survey results show that 90% of respondents believe that a war with Iran will lead to higher U.S. oil and gasoline prices in the short term. Meanwhile, more than 60% of respondents believe that this war will weaken the U.S. economy in the short term.

 Open a futures account on Sina’s partner platforms—safe, convenient, and backed by guarantees

Endless information and precise analysis—available in the Sina Finance app

责任编辑：赵思远