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A 15-gallon fill-up of regular gasoline that cost $44.70 in February now costs $64.35, based on AAA’s national average of $4.29 a gallon reported by Business Insider on Oct. 25, 2026, versus $2.98 a gallon the day before the US and Israel struck Iran.
What pushed pump prices this high
Business Insider reported that President Trump, speaking at a rally in Georgia on Saturday, said US oil and gas companies are ‘making hundreds of billions of dollars’ because disruption of the Strait of Hormuz routed oil buyers to American producers in Texas, Oklahoma and Louisiana. He called oil prices ‘temporarily high’ while acknowledging companies are making what he called ‘a freaking fortune.’ A Q2 report from the trade publication Oil & Gas Journal, cited by Business Insider, attributed the gains to ‘surging crude prices tied to ongoing Strait of Hormuz disruptions.’
Tracing the dollars from the Gulf to the pump
The Oil & Gas Journal report found that a sample of 38 US oil producers and refiners grew revenues by about $140 billion year over year, according to Business Insider, as crude prices rose with the Strait of Hormuz disruptions. On the household side, AAA data reported by Business Insider show the national average for regular gasoline reached $4.29 a gallon on Oct. 25, up from $2.98 the day before the February strikes on Iran – a rise of $1.31 a gallon, or about 44%. Diesel, which Business Insider notes powers the trucks and ships that move goods, averaged $6.35 a gallon as of Sunday, up from $3.75 before the conflict began, a $2.60 jump per gallon that the outlet says is often passed on to consumers through higher prices for shipped goods.
Who gains, who pays – and our math on a fill-up
US producers and refiners gained roughly $140 billion in added revenue year over year, per the Oil & Gas Journal data cited by Business Insider, while households pay the higher pump price directly. For a 15-gallon tank, that means $64.35 now versus $44.70 before the conflict – $19.65 more per fill-up. Filling up twice a month adds about $39.30 a month, or roughly $471.60 a year, using AAA’s reported national averages as the base; this is an illustration tied to those two dated price points, not a projection.
What to watch and check this week
Check AAA’s daily fuel price tracker for your state to see how your local gas and diesel prices compare with the national averages cited here. Business Insider also reported that Trump said on Oct. 9 he reached a deal with Russian President Vladimir Putin to import Russian diesel, previously sanctioned over the invasion of Ukraine; the outlet reported that analysts warned this could support Russia’s economy, a claim attributed to those analysts and not independently verified here. Source: Business Insider, citing AAA and the Oil & Gas Journal. Disclaimer: This analysis is for educational and informational purposes only and should not be construed as financial or investment advice.
Sources: Business Insider
