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* World

# How the Iran war is driving up gas prices

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<!-- video src="https://cdn.jwplayer.com/manifests/eaVtz4gW.m3u8" -->
## Video: How the Iran war is driving up gas prices

[Watch (HLS stream): How the Iran war is driving up gas prices](https://cdn.jwplayer.com/manifests/eaVtz4gW.m3u8) (1:16)

![How the Iran war is driving up gas prices](https://cdn.jwplayer.com/v2/media/eaVtz4gW/poster.jpg?width=720)

_Published 2026-03-09. Since the eruption of the Iran war, around a fifth of global oil and liquefied natural gas supply is now at risk._


---

Mar 9, 2026 8:51 PM UTC

---

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### Falling Gas Prices: Driving Gets Cheaper, But Not Flying

---


## Transcript

Since the eruption of the Iran war, around a fifth of global oil and liquefied natural gas supply is now at risk. Dozens of oil tankers are currently stranded in the Persian Gulf, with no sign of movement to come. Here is what that means for you in 60s following joint US Israeli strikes on Iran on February 28th, retaliatory strikes have since targeted US bases, consulates and civilian infrastructure across the Middle East, widening the conflict. Typically, most of the oil and gas produced in the region is exported on tanker vessels that have to pass through the Strait of Hormuz, a narrow passage between the Persian Gulf and the Gulf of Oman.

But Iran has threatened to target tankers that pass through the strait, and drone strikes have already hit some vessels anchored in the Persian Gulf. Other attacks have also struck oil and gas refineries in the Gulf, bringing production to a halt. The disruption has already increased oil prices by up to $20, with US natural gas prices also up by 11%. This will ultimately mean you paying more at the pump for your gas and likely higher prices in general as transportation and fuel costs rise. Maritime insurers are also increasing their coverage fees for tankers, with experts warning that this could also be passed on to the consumer.

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