Gas Prices Rise in South Florida Amid Conflict

Stock market also reports a dip as oil prices contribute to market volatility

Published on Mar. 4, 2026

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Residents in South Florida are feeling the impact of rising gas prices, with some paying up to 20% more for fuel, as the conflict between the U.S., Israel, and Iran continues. The increase in oil prices has also contributed to a drop in the stock market, affecting some retirement accounts.

Why it matters

The rise in gas prices and stock market volatility due to the ongoing geopolitical tensions in the Middle East are having a direct financial impact on South Florida residents, affecting their budgets and investments.

The details

Many South Florida residents, like Stacey Williams and Mitchell Gershon, are dealing with the higher gas prices, which are costing them more to fill up their vehicles for work and business. The increase in oil prices has also contributed to a drop in the stock market, leading to a dip in some retirement accounts.

  • The rise in gas prices began four days into the conflict between the U.S., Israel, and Iran.
  • The stock market drop occurred on Tuesday.

The players

Stacey Williams

A worker who has traveled all over the U.S. and has noticed the fluctuations in fuel prices, including paying $66 for 20 gallons of diesel to fill his pickup truck.

Mitchell Gershon

The owner of Thrifty Gypsy, a pop-up store at musical venues, who has to constantly fill three vehicles and is dealing with a 20% increase in fuel costs.

Chad NeSmith

The director of investments at Tobias Financial Advisors in Plantation, who provided perspective on the stock market drop and advised investors to stay informed and stick to their goals.

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What they’re saying

“The salary we get paid per hour does not add up to what we pay for gas, housing, and food.”

— Stacey Williams (CBS Miami)

“Have a little backup cash so you are ready for it.”

— Mitchell Gershon (CBS Miami)

“Pay attention to your portfolio. Stick to your goals. Have a plan because these things are completely unpredictable.”

— Chad NeSmith, Director of Investments, Tobias Financial Advisors (CBS Miami)

The takeaway

The rise in gas prices and stock market volatility due to the ongoing conflict in the Middle East is having a significant financial impact on South Florida residents, highlighting the need for individuals to closely monitor their budgets, investments, and financial plans during times of economic uncertainty.