Gas Prices Spike Amid Global Tensions, Impacting Butler Students

Rising fuel costs due to disruptions in the Strait of Hormuz are squeezing college budgets and changing transportation habits.

Apr. 15, 2026 at 3:27am

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A striking abstract illustration composed of overlapping triangles and rectangles in shades of red, blue, and yellow, conveying the volatility and far-reaching impact of rising fuel costs.As gas prices surge, college students struggle to fuel their budgets and find alternative transportation options.Indianapolis Today

Gas prices in the U.S. have spiked in recent weeks, with the national average for regular gasoline reaching $4.118 per gallon as of April 14 - a 13.19% increase from March. This increase has been driven by disruptions to oil traffic in the Strait of Hormuz due to the ongoing war in Iran, impacting the global supply and demand for oil. The high prices are creating financial burdens for Butler University students who rely on personal vehicles for transportation, forcing them to cut back on other expenses or find alternative ways to get around.

Why it matters

The rise in gas prices has wide-ranging economic impacts, affecting not just the cost of fuel but also the production and distribution of many goods and services. This is especially challenging for college students who have limited budgets and transportation options. The situation highlights the vulnerability of the U.S. economy to global conflicts and the need for more sustainable, affordable mobility solutions.

The details

Economics professor William Rieber explained that the global nature of the oil market means disruptions in the Middle East, a major oil-producing region, have ripple effects worldwide. 'In terms of pricing, it is not local, it is [global], and so much oil is produced in the Middle East, and without that flowing, you get drops in supply, [which] affects the entire world economy, including the U.S., Indianapolis and Butler students.' This has made it difficult for Butler students like sophomore Jake Ward, who has had to limit driving home to Michigan and even charge friends for rides to cover the high fuel costs.

  • The national average gas price for regular gasoline was $4.118 as of April 14, 2026 - a 13.19% increase from the March 2026 average of $3.638.
  • On April 8, 2026, the United States began a two-week ceasefire with Iran, but the blockade of the Strait of Hormuz continues to affect oil exports.
  • On April 8, 2026, Indiana Governor Mike Braun signed an executive order declaring a 30-day temporary gas tax holiday to provide relief to residents.

The players

William Rieber

An economics professor who explained the global nature of the oil market and how disruptions in the Middle East impact the U.S. economy, including for Butler University students.

Jake Ward

A sophomore accounting and finance double major at Butler University who has had to limit his driving and charge friends for rides due to the high gas prices.

Mike Braun

The Governor of Indiana who signed an executive order declaring a 30-day temporary gas tax holiday to provide relief to residents.

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What they’re saying

“Economically, oil is a world market. In terms of pricing, it is not local, it is [global], and so much oil is produced in the Middle East, and without that flowing, you get drops in supply, [which] affects the entire world economy, including the U.S., Indianapolis and Butler students.”

— William Rieber, Economics Professor

“Gas prices, especially lately, have [impacted] a lot of my driving. I'll [run] down my car till almost empty, because it's been expensive. College is not cheap and prices are going [up]. When you work a nine an hour job, it's rough out there … It's definitely made me more conscious of how much I really need to drive to places. I've had to charge people when I drive [them], because I need the gas money.”

— Jake Ward, Sophomore Accounting and Finance Major

What’s next

Experts say it is difficult to predict whether gas prices will continue to rise or fall in the coming months, as the situation in the Strait of Hormuz remains fluid. However, the high prices are likely to persist in the near term, forcing Butler students and other consumers to make difficult budgeting decisions.

The takeaway

The spike in gas prices underscores the vulnerability of the U.S. economy to global conflicts and supply chain disruptions. For college students like those at Butler University, the financial burden of high fuel costs is forcing them to cut back on other expenses and rethink their transportation habits. This situation highlights the need for more sustainable and affordable mobility solutions to insulate local communities from the volatility of the global energy market.