For many students, the current conflict in the Middle East can feel distant. But the recent surge in gas prices shows that the conflict impacts everyone at the local level.
According to an article by CNN, global oil prices have been extremely volatile because of the conflict in Iran. Oil markets have begun to surge exponentially. Earlier this week, crude oil reached over $100 per gallon, something we haven’t seen since 2022, when Russia invaded Ukraine.
This instability is also affecting Idaho drivers.
According to an article by the AAA, Idaho data shows that the average price per gallon of regular gasoline in Idaho has jumped to $3.24, a 27-cent increase in just one week. Even though Idaho’s prices remain lower than some states, the rapid increase shows how quickly these prices can shift.
AAA Idaho Public Affairs Director Matthew Conde spoke about the rising prices.
“Prices across the country are off to the races,” Conde said, noting that Idaho’s increases have not been as steep as some other states. “However, these days, that’s like celebrating the last banana to go rotten. It’s just a matter of time.”
AAA Idaho said that crude oil prices surged during the conflict, with West Texas being the benchmark, briefly trading around $117 per barrel over the weekend before settling at $95.
Still, Idaho drivers could be facing even worse.
AAA noted that while gas prices are quickly rising, Idaho still ranks 31stst in the nation for the most expensive gas. Other states are seeing much sharper increases. The national average is already $3.48 per gallon, which is nearly 50 cents higher than a week ago.
Idaho is a state where driving can be unavoidable. There are many rural areas with long distances between cities, which makes driving a necessity. With spring break quickly approaching and many students beginning to make their drive back to their house, they will quickly realize that it will not be a cheap trip home.
When prices rise more than a quarter in a week — those costs can add up quickly.
The oil market also creates uncertainty for consumers. According to CNN, oil prices recently dropped sharply after political leaders suggested the conflict with Iran could end soon.
The sudden drop is not reassuring. It just highlights how unpredictable the oil market has become. Prices can surge when conflict escalates and drop just as quickly when peace is mentioned.
For consumers, this instability makes planning difficult. Drivers never know when gas will be higher or lower.
It’s easy to think that global oil markets are distant economic matters that only affect investors of energy companies, but the reality is, it impacts everyone. Students, families, community members, and staff all see the consequences of surging oil prices.
The recent spike in gas prices shows that the connection between global politics and local economics is stronger than many people realize.
The biggest lesson from the past week is that Idaho drivers have very little power over the forces that control the price of fuel. How vulnerable are small communities, like Moscow, when global conflicts occur?
For now, head to your nearest gas station and fill up. Like the conflict in the Middle East, we don’t know when it will end, and we don’t know what the cost of gas could be tomorrow, or even next week.
Andrea Roberts can be reached at [email protected].