How tensions with Iran could impact Minnesota gas prices

Name: How tensions with Iran could impact Minnesota gas prices
Uploaded: 2026-03-03T00:24:44Z
Description: The price of crude oil will jump on expectations that the Iran conflict will continue for at least a few weeks. Tanker traffic is mostly halted through Strait of Hormuz, which carries 20% of world’s crude oil supplies. Across the U.S., predictions are that gas prices will rise between 10 to 30 cents a gallon, but likely temporarily, and still lower than one year ago.

The price of crude oil will jump on expectations that the Iran conflict will continue for at least a few weeks. Tanker traffic is mostly halted through Strait of Hormuz, which carries 20% of world’s crude oil supplies. Across the U.S., predictions are that gas prices will rise between 10 to 30 cents a gallon, but likely temporarily, and still lower than one year ago.

Posted March 2, 2026 6:24pm CST