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El Paso Residents Brace for Continued High Gas Prices Amid Oil Market Fluctuations

KVIA•Wednesday, March 11, 2026 at 12:43 PM•CNN Newsource

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Despite a recent drop in global oil prices, El Paso residents should not expect immediate relief at the gas pump. The ongoing conflict in Iran has significantly impacted oil supply, driving prices up by 20% since late February, with retail gas now averaging $3.58 per gallon. Analysts predict that while wholesale prices may stabilize, retail gas prices are likely to peak in April due to seasonal shifts and increased demand. This situation affects local drivers and businesses, as higher gas prices can lead to reduced consumer spending in convenience stores. Residents are advised to monitor gas prices closely and consider their travel plans as costs may remain elevated.

Key Details: • Current average gas price in El Paso is $3.58 per gallon. • Wholesale gas prices have increased by 23% since the start of the Iran conflict. • Retail gas prices are expected to peak in April as the summer blend is introduced. • Local gas station owners typically earn around 15 cents profit per gallon.

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