Twin Cities gas prices jump to $3.53 as Iran war enters third week
Twin Cities average gasoline price jumped to $3.53 per gallon this week—up about 18.4 cents from last week, nearly 90 cents higher than a month ago and roughly 58 cents above last year—with Minnesota’s statewide average at $3.43 and diesel averaging about $4.66 (national diesel about $4.98). The rise reflects oil-market turmoil tied to Iranian attacks in the Strait of Hormuz, retaliatory strikes and reduced Gulf output that pushed Brent toward $120 a barrel, while the Trump administration has called the increase temporary, framed it as a “very small price to pay,” and urged other nations to help secure shipping lanes.
📌 Key Facts
- Twin Cities gasoline averaged $3.53 per gallon as of March 16, 2026, after rising another 18.4 cents in the prior week.
- Earlier (March 9), GasBuddy data showed Twin Cities gas had jumped 47.8 cents in one week to about $3.34, indicating a rapid two-week run-up.
- The March 16 price level is nearly 90 cents higher than a month ago and about 58 cents higher than a year ago.
- Minnesota diesel averaged about $4.66 per gallon as of March 16 (up from roughly $4.45 on March 9); the national diesel average rose to about $4.98 (up from about $4.66).
- Brent crude briefly approached $120 per barrel amid U.S., Israeli and Iranian strikes and reduced output from the UAE, Kuwait and Iraq, as the Strait of Hormuz was reported to be nearly closed.
- News coverage ties the fuel-price spike to Iranian attacks on vessels in the Strait of Hormuz and retaliatory strikes that have affected ports and oil infrastructure.
- President Donald Trump publicly framed the spike as a "very small price to pay" for "World, Safety and Peace," pushed other nations to send warships to keep the route open, and the administration has described the price surge as temporary, saying the conflict could end in the next few weeks.
📊 Relevant Data
In 2023, 28% of the world's maritime oil trade passed through the Strait of Hormuz.
In 2025, nearly 15 million barrels per day of crude oil, representing nearly 34% of global crude oil trade, passed through the Strait of Hormuz.
Strait of Hormuz — IEA
US petroleum imports from Persian Gulf countries accounted for 8.5% of total US petroleum imports annually as of the latest data.
US Petroleum Imports From Persian Gulf as Share of Total Imports — YCharts
Utility service customers in predominately non-White communities pay higher energy prices but consume less energy compared to those in White communities, with non-White communities facing a higher energy burden.
Black households experience higher energy burdens partly due to living in older buildings with average building age impacting energy costs, and lower homeownership rates compared to White households (where Blacks are 13.6% of the US population but face these disparities).
Energy burden: Exploring the intersection of race, income, and building characteristics on household energy costs — ScienceDirect
📰 Source Timeline (3)
Follow how coverage of this story developed over time
- Average Twin Cities gasoline price has risen another 18.4 cents in the past week to $3.53 per gallon, nearly 90 cents higher than a month ago and about 58 cents higher than a year ago.
- Minnesota’s statewide gasoline average is now about $3.43 per gallon; Minnesota diesel averages about $4.66 per gallon, while the national diesel average is around $4.98.
- The article ties the spike explicitly to Iranian attacks on vessels in the Strait of Hormuz and retaliatory strikes affecting ports and oil infrastructure, and notes President Trump is pushing other nations to send warships to keep the route open.
- The Trump administration is publicly framing the price spike as temporary and suggests the conflict could end in the next few weeks, even as prices keep climbing.
- Twin Cities gasoline prices have risen 47.8 cents in the past week, averaging about $3.34 per gallon according to GasBuddy.
- Minnesota diesel now averages around $4.45 per gallon, up 77 cents in a week, while the national diesel average has hit $4.66, up 88 cents.
- Brent crude briefly climbed to nearly $120 per barrel amid U.S., Israeli and Iranian strikes and reduced production from the UAE, Kuwait and Iraq as the Strait of Hormuz is nearly closed.
- President Donald Trump publicly framed the spike as a "very small price to pay" for "World, Safety and Peace" on Truth Social, signaling the White House expects the public to absorb the hit.