Will the tensions between Iran, Israel have an impact on gas prices?

Iran’s missile attack on Israel could have an impact on gas prices, which are already trending higher.

“With Iran’s attack on Israel over the weekend, the stakes couldn’t have been higher for a major potential impact on oil and gasoline prices,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With the attacks largely thwarted and mostly unsuccessful, and with Iran signaling that their attack will be the end of their response, the risk to crude oil has diminished, and the situation is thankfully likely to de-escalate going forward.

“If Israel, which has promised to respond with further attacks, indeed does press on, it could certainly still push oil prices higher,” De Haan said.

Average gasoline prices in Virginia have risen 3.8 cents per gallon in the last week, averaging $3.50 per gallon at the start of business on Monday, according to GasBuddy’s survey of 4,081 stations in Virginia.

The national average price of gasoline has risen 3.1 cents per gallon in the last week, averaging $3.60 per gallon today.

The national average price of diesel is down 1.2 cents in the last week and stands at $4.01 per gallon.

Motorists can expect other factors to influence what they’re paying at the pump, De Haan said.

“Motorists in the mid-Atlantic and Northeastern U.S. will soon see a spike in prices as they make the leap to summer gasoline, as much as 20-50 cents per gallon higher in nearly a dozen states. On the West Coast, price increases should finally slow, but the national average will likely climb again in the coming week,” De Haan said.