Gas prices spike in Nebraska after start of Iran conflict

Gas prices in Nebraska have increased sharply over the past few days after the U.S. and Israel bombed Iran over the weekend.

According to AAA, the average price in Nebraska of a gallon of unleaded gasoline was nearly $2.88 as of Tuesday morning. That price was 16 cents higher than Monday and nearly 25 cents higher than it was a week ago.

Some individual cities have seen larger jumps though.

Prices in Columbus on Tuesday were averaging $2.81 a gallon, less than the state average. But that price was up almost 19 cents over Monday and was 34 cents higher than it was a week ago. Norfolk has seen prices go up 35 cents in the past week, while in North Platte, the average price has jumped above $3 a gallon.

AAA Nebraska spokesman Brian Ortner said that the increase is mostly due to the conflict in the Middle East, which has caused oil prices to increase, but it’s also being driven somewhat by the time of year.

Refineries are starting to produce summer-blend gasoline, which contains pricier additives to help reduce evaporation during warmer months and improve air quality. That causes prices to rise, as does the fact that demand starts to ramp up in March as spring break season hits and people drive more.

The good news is that gas prices remain low relative to the past few years.

“We're definitely still lower than we were last year across the state as an average, which is a great thing to see,” Ortner said.

He said the current price increases nationally are similar to what drivers saw four years ago when Russia invaded Ukraine.

“Average 11-cent raise on the national level overnight,” Ortner said. “And if we look back to March of 2022, when the Russia-Ukraine conflict started, the national average jumped 11 cents during that time period, too.”

As for how long the increases will last and how high prices will go, Ortner said he believes prices will be affected as long as the conflict is ongoing.

Patrick De Haan, head of petroleum at GasBuddy.com, said in a Monday blog post that he believes prices nationally will go up an average of 15-30 cents a gallon over the next two weeks.