Iran tensions could spike gas prices Geopolitical conflict in Iran presents significant risks to global oil markets. Experts predict gasoline prices will likely rise in the short term if tensions escalate, though the magnitude and duration remain uncertain. Oil supply disruptions from the region could ripple through U.S. energy markets, affecting consumer prices at the pump within weeks. However, predicting medium to long-term price movements is extremely difficult due to multiple variables including global demand, production levels, and market speculation. Energy analysts recommend monitoring developments closely as the situation unfolds.