Euro Zone Debt Concerns and Iran Tensions Push Oil, Gasoline Prices Upward
WASHINGTON – According to the AAA, crude oil prices and, consequently, gasoline prices edged higher due, in part, to the ongoing Euro Zone debt concerns and geopolitical tensions with Iran.
WASHINGTON - According to the AAA, crude oil prices and, consequently, gasoline prices edged higher due, in part, to the ongoing Euro Zone debt concerns and geopolitical tensions with Iran.
The news that Greece was nearing an austerity deal last week was seen as bullish for the Euro Zone economy as a whole and was a primary driving force for higher oil prices on the week, according to AAA.
The effect on U.S. gasoline prices have varied due to a number of factors. Areas in the center of the country that use gasoline from refineries with access to the relatively cheaper crude products have seen prices hold steady or even move lower in recent weeks, while areas having to rely on refiners using more expensive products have seen prices move higher. States like Ohio and Michigan have seen prices fall by 18 and 17 cents respectively over the last month, at the same time states like Connecticut and North Carolina have seen prices rise by these same respective amounts.
Also impacting prices is the fact that refiners - especially those processing more expensive crude products - have responded to dismal demand for gasoline nationwide by planning production decreases, resulting in upward pressure on prices paid by motorists. According to a Department of Energy report issued in early February, gasoline demand for the four weeks prior averaged 18.12 million barrels per day - the lowest level since April 25, 1997.
At a national level, the price of gasoline at the pump has continued to rise. The national retail average for mid-February for a gallon of self-serve, regular gasoline was $3.51. That was 3 cents more than the week prior, 12 cents more than one month prior to that, and 38 cents more expensive than the same time in 2011.
More Fuel

Study: How 2026's Gas Price Hikes Affect Different Vehicle Types
New data from iSeeCars reveals how rising fuel costs have affected different vehicle segments as gasoline prices climbed nearly 46% over the past four months.
Read More →Are You Tracking Your Fleet's True Total Cost of Ownership?
Bobit Business Media surveyed 190 fleet professionals and found that while most fleets are tracking costs, fragmented systems and data gaps are keeping true TCO visibility out of reach. With rising pressure to control spend in an increasingly volatile environment, the gap between what fleets think they know and what the data actually shows is wider than you might expect. See how your peers are managing costs today and where the industry still has room to improve.
Read More →
May Fuel Update: All Regions Experience Declines
Gas prices are finally easing in much of the country, but experts warn global tensions could quickly reverse the trend as the national average remains well above last month’s levels.
Read More →
April Fuel Update: Prices Climb Above $4 as Spring Surge Accelerates
National average jumps to $4.04 per gallon, up sharply from last year, with West Coast prices topping $5 and further increases expected amid rising oil tensions.
Read More →
Tips from Fleet Managers on Saving Fuel Costs
Fleet leaders share practical strategies to reduce fuel spend through smarter policy, routing, and driver guidance.
Read More →
March Fuel Update: Prices Settle With a $4 Average
Fuel prices significantly slowed this week, but a $4 national average is still expected.
Read More →Bob Adamsky on Fuel Volatility: “Don’t Panic — Have a Plan”
With oil prices rising again, AWP Safety’s fleet manager shares how to respond to rising fuel costs and how the right strategy can turn fuel spikes into cost-saving opportunities.
Read More →
Oil Market Turbulence Is Complicating Fleet Cost Planning
Rapid swings in crude oil prices driven by the conflict in the Middle East could create longer-term cost pressures for fleets, affecting fuel prices, supply chains, and vehicle strategy, says NTEA’s Andrew Wrobel.
Read More →
February Fuel Update: Prices Inch Higher for Third Week in a Row
The final February fuel update reveals prices continuing to inch higher for the third week in a row.
Read More →
The 2026 Fuel Economy Guide: Updated Cost and Efficiency Benchmarks for Fleets
Fleet managers can use the DOE’s 2026 Fuel Economy Guide to benchmark MPG across powertrain types using side-by-side vehicle ratings and compare new model-year options.
Read More →