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Gas Prices in El Paso Rise Slightly Amid Ongoing Iran Conflict

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The average price of regular gasoline in El Paso has increased by 2 cents, reaching $4.16 per gallon, according to the latest AAA report. This rise comes despite a drop in oil futures following a two-week ceasefire in the ongoing conflict in Iran and plans to reopen the Strait of Hormuz for tanker traffic. Although the reopening may eventually stabilize oil supplies, prices at the pump are expected to remain elevated as they have risen by $1.18 per gallon, or 40%, since the war began. Consumers should anticipate that any potential decreases in wholesale gasoline prices will take time to reflect at retail outlets.

Key Details: • Average gasoline price now at $4.16 per gallon in El Paso. • Prices have increased by $1.18 per gallon since the start of the Iran conflict. • The Strait of Hormuz reopening may impact future oil supply and pricing. • Historically, gasoline prices decrease more slowly than they rise.

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