War in Iran Sends Oil Prices Soaring, Impacting Bay Area Gas Prices

Experts warn of higher prices at the pump as conflict in Iran continues

Published on Mar. 2, 2026

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Oil prices have surged more than 7% as the war in Iran drags on, with United States crude oil prices rising nearly $6 per barrel. Analysts say the conflict is already being felt at Bay Area gas pumps, and drivers are bracing for further price increases.

Why it matters

The ongoing war in Iran has significant implications for global oil supplies and prices, which directly impact the cost of gasoline for consumers in the Bay Area and across the country. Disruptions to Iran's oil production and exports can lead to tighter global oil markets and higher prices at the pump.

The details

Oil prices jumped sharply on Monday, with United States crude oil soaring more than 7% and pushing prices higher by nearly $6 per barrel. Analysts say some of these increases are already being reflected in higher gas prices for Bay Area drivers, and further price hikes are expected if the conflict in Iran continues.

  • Oil prices surged on Monday, March 3, 2026.

The players

Farid Senzai

Associate Professor at Santa Clara University who provides analysis on the impact of the war in Iran on oil and gas prices.

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What they’re saying

“Oil prices are surging as the war in Iran continues and that likely means higher prices are coming to Bay Area gas pumps.”

— Velena Jones (NBC Bay Area)

What’s next

Analysts will continue to monitor the situation in Iran and the impact on global oil markets, which will determine how much further gas prices may rise in the Bay Area.

The takeaway

The ongoing war in Iran is having a direct impact on the cost of gasoline for Bay Area consumers, underscoring the region's vulnerability to global oil price fluctuations and the importance of energy security and diversification.