Iran Tensions Threaten Gas Prices | San Antonio News

San Antonio News Today | 2 Min News | The Daily News Now! · Jul 8, 2026 · 1m

Tensions between the U.S. and Iran are heating up again, with Iran striking commercial ships and U.S. military sites in the Persian Gulf — a move that could choke off oil shipments through the Strait of Hormuz and send crude prices soaring, ultimately hitting gas prices at the pump. Crude recently hit a weekly high, and while regular gas prices only crept up slightly, they’re still far from where they were last month. Since refiners buy oil in advance, gas price hikes often lag behind crude spikes. The U.S. Strategic Petroleum Reserve, already at its lowest level since 1983, leaves little…