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Conflict in Iran Sends Gas Prices Soaring in San Mateo
Local students and consumers feel the financial strain of a global conflict 8,000 miles away.
Mar. 18, 2026 at 3:33am
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As of March 16, the average price for a gallon of regular unleaded gasoline in San Mateo County is approximately $5.53, a 20.5% increase since the start of the month, according to the American Automobile Association (AAA). This price surge is largely due to the ongoing conflict in Iran and the resulting blockade of the Strait of Hormuz, through which 20% of the world's oil passes every day.
Why it matters
The conflict in Iran has drastic consequences for international security, and its ripple effects are felt worldwide. Local students and consumers in San Mateo are feeling the immediate financial strain of a war thousands of miles away, as high energy prices impact everything from transportation to the cost of goods and services.
The details
Following the launch of joint airstrikes on Feb. 28, tanker traffic through the Strait of Hormuz has dropped to a fraction of its normal volume, effectively halting the flow of oil. This has led to a 'near standstill' in tanker movements, forcing Middle Eastern producers to cancel shipments and shut down oil fields as regional storage tanks reach their maximum capacity.
- On March 16, the average price for a gallon of regular unleaded gasoline in San Mateo County was approximately $5.53.
- Since the start of March, gas prices in San Mateo County have increased by 20.5%.
The players
John Rowe
A Carlmont business teacher who offers an explanation for the volatile gas prices.
Deepak Gupta
A full-time investor with an active portfolio that contains shares in Chevron and other oil refineries.
Gregory Duffy
A Carlmont senior who has been driving for three years and has noticed a $1.80 increase in price per gallon from January to March.
What they’re saying
“Just in general, whenever there's some uncertainty in the Middle East, the gas prices always start to rise. Iran has been doing some things to try to choke off the supply of oil by closing the Strait of Hormuz.”
— John Rowe, Carlmont business teacher
“When energy prices increase, that means inflation is going to increase because energy is part of everything, from food to plastic, any materials, packaging, and transportation of materials.”
— Deepak Gupta, full-time investor
“I was annoyed because now I have to force myself to drive more efficiently to stretch my tank.”
— Gregory Duffy, Carlmont senior
What’s next
The U.S. Energy Information Administration (EIA) recently raised its Brent crude forecast, a global benchmark, to an average of $91 per barrel for the second quarter of 2026, reflecting the heightened risk from the ongoing conflict in Iran.
The takeaway
The conflict in Iran has far-reaching consequences, with the disruption of oil supply through the Strait of Hormuz leading to a significant surge in gas prices in San Mateo County. This economic fallout extends beyond just the cost of fuel, impacting the prices of goods and services across the board and highlighting the interconnectedness of global events and local communities.
