Iran conflict pushes Minnesota gas prices higher
FOX 9 reports that Minnesota gas prices are already climbing as the escalating conflict in Iran drives global oil higher, with AAA listing the state’s average for regular unleaded at $2.83 per gallon on Monday, up from $2.79 the day before and $2.625 a month ago. Benchmark crude that was $56 a barrel at the start of 2026 is now about $71, and U.S. oil futures are up 7.6% to just over $72, with most analysts expecting the full impact at the pump to hit within about two weeks. On the ground in Eden Prairie, drivers told FOX 9 they’re unhappy but feel they have little choice but to absorb the higher costs, while GasBuddy data show some of the state’s lowest posted prices still in the metro, including $2.40 at Kisch Oil in Maple Grove. The piece underscores that, as in past Middle East flare-ups, Twin Cities commuters and delivery-dependent businesses will see a direct hit to budgets long before there is any clarity on how long the Iran crisis lasts. For now, the trend line is all in one direction: steadily rising fuel costs heading into spring driving season.
📌 Key Facts
- AAA says Minnesota’s average regular unleaded price is $2.83 per gallon as of Monday, up from $2.79 Sunday and $2.625 a month earlier.
- Global crude oil has risen from about $56 a barrel at the start of 2026 to $71, with U.S. oil at just over $72 a barrel, up 7.6%.
- Analysts expect higher oil prices to fully show up at the pump within roughly two weeks, with some of the lowest current MN prices including $2.40 at Kisch Oil in Maple Grove.
📊 Relevant Data
The United States imported 7% of its total petroleum imports and 7% of its crude oil imports from Saudi Arabia in 2023, a key Middle Eastern supplier, making global oil price fluctuations in the region impactful on U.S. markets despite limited direct imports from Iran due to sanctions.
Oil imports and exports - U.S. Energy Information Administration (EIA) — EIA
In 2024, the top five sources of U.S. gross petroleum imports were Canada (55%), Mexico (7%), Saudi Arabia (4%), Brazil (not specified percentage), and Iraq (not specified), indicating that while Middle Eastern imports are a smaller share, disruptions in the region affect global oil supply and prices.
Is the US a bigger oil importer or exporter? — USA Facts
Historical analysis shows that most Middle East conflicts between 2015 and 2025 did not trigger sustained oil-price surges, with geoeconomics rather than geopolitics often driving price swings, providing context for the current spike's potential duration.
Retail gas prices typically increase about 2.5 cents per each $1 increase in oil prices, which could amplify the economic impact of the current oil surge from $56 to $71 per barrel on U.S. consumers.
The average fuel economy in Minnesota was around 20 miles per gallon in 2023, which influences household gasoline consumption and the financial burden of price increases on residents.
Average Gas Tax for Minnesotans — Minnesota Department of Transportation
📰 Source Timeline (1)
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