finance
U.S. Gasoline Prices Rise as Oil Supplies Tighten from Multiple Conflicts
The national average reached $3.8590 per gallon on July 14, up from $3.7900 a week earlier. Nearly 80 percent of states recorded increases as oil prices climbed roughly 15 percent. The shift followed the collapse of a U.S.-Iran ceasefire and renewed fighting around the Strait of Hormuz.
Jul 14, 11:30 AM·1m read3 sources
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U.S. gasoline prices increased for the first time since May, with the national average reaching $3.8590 per gallon on Tuesday, July 14, 2026, according to AAA data cited by OilPrice.com. The figure marked a rise from $3.7900 one week earlier.
Nearly 80 percent of U.S. states recorded retail price increases, GasBuddy data showed. -Iran ceasefire, which triggered renewed military exchanges. U.S. forces struck Iranian radar sites, air defense systems, and Revolutionary Guard targets.
President Donald Trump reinstated a naval blockade on Iranian shipping and demanded transit fees for vessels passing through the Strait of Hormuz. -linked military facilities in Bahrain, Kuwait, Oman, and three other countries. Commercial vessel traffic through the Strait fell by roughly 50 percent, maritime intelligence indicated.
Oil prices stood approximately 15 percent higher than one week prior. The developments added pressure on global refined-product supplies. Separately, Russia announced a ban on diesel exports last week to stabilize its domestic fuel market.
Ukrainian drone strikes knocked out major oil depots and processing terminals in Tver, Stavropol, Bataysk, and Ufa. Independent energy analysts estimate the strikes have disabled around one-third of Russia’s refining capacity, OilPrice.com reported.
