If you or someone you know drives as a main form of transportation, you’ve likely noticed gas prices have been sky high. The question that seems to be on everyone’s mind is simple: why?
While many point to rising conflict in Iran, the explanation is much more complex.
Since the United States’ first strike on Iran in February this year, gas prices have surged more than 30%, witht he national average reaching $4.03 per gallon as of April 23rd, according to NBC news. Although the United States only receives about 7% of its oil through the Strait of Hormuz, disruptions in the region have still had global effects.
The Strait of Hormuz is one of the most important oil transit points in the world. Even countries that do not heavily rely on it are impacted because oil is traded on a global market.
The more direct explanation comes down to supply and demand. The United States is not only a consumer of oil, but also one of the world’s largest producers. However, when global supply routes are disrupted, international demand increases pressure on available supply, which contributes to higher prices across markets.
In the end, consumers are the ones who feel the impact most directly.
Calculus and geometry teacher, Mr. Allmond said the increase in gas prirces has heavily affected his daily decisions.
“The increase in gas prices is understandable, yet very unfortunate, and [makes me] want to get an EV,” Allmond said.
Senior Zoe Price shared a similar frustration.
“Gas prices are absurdly high, and there’s nothing much we can do about it,” Price said.
One economic explanation for the trend is known as “rockets and feathers,” according to Forbes. In this model, gas prices tend to rise quickly like rockets but fall slowly like feathers. This is ofte attributed to consumer behavior. During times of uncertainty, consumers search aggressively for better prices, which pushes providers to raise prices. When conditions stabalize, demand urgency drops, but prices do not fall at the same rate.
These pricing patterns affect more than just wallets, they also change daily routines.
Mr. Allmond said he and his girlfriend have reduced travel between Fort Worth and his home as a result of higher costs. Price says that she is much more aware of how much gas she uses, and how often she drives.
When surveyed, 93% of students disapproved of current gas prices, according to student poll. NBC News estimates that if prices remain high, the United States could see nearly a 10% drop in total mileage nationwide.
Unfortunately, analysts suggest this may not be a short-term issue. Estimates indicate elevated prices could last into late 2026 or even 2027.
There are still ways to adjust. Although limited in suburban areas like Frisco, biking and walking remain cost-effective options for short distances. For longer commutes, carpooling can make a significant difference. According to the Center for Climate and Energy Solutions, Commuters who carpool regularly could save up to $1,100 per month.
So the next time you’re planning a night out with friends, carpooling might be worth considering. After all, who doesn’t love a little carpool karaoke?
In the end, gas prices continue to rise alongside global tensions, consumers are left adjusting their habits and watching markets closely. If nothing else, the situation highlights how connected global events and everyday costs really are.