8 News Now: Las Vegas gas prices up $1 from 2 weeks ago, far above national average

Gasoline prices in Las Vegas have risen $1 per gallon since U.S. air strikes in Iran began, presenting another challenge to household budgets in the valley.

And while the pain is nationwide, it’s particularly tough for Nevadans and others on the West Coast. The national average price for gasoline has risen 74 cents, now at $3.68 per gallon.

But Las Vegans were already paying $3.65 two weeks ago, and they are now looking at an average price of $4.65 per gallon. The lowest prices available in the valley, which usually track closer to the national average, are now at $4.05 per gallon. GasBuddy.com’s live updates show some stations charging less.

Las Vegas gas prices over the past year

Now, all eyes are on a critical passageway for oil tankers, the Strait of Hormuz, which goes between Iran and United Arab Emirates (UAE). President Donald Trump on Monday asked U.S. allies to send ships to the area today to protect tankers.

“Consumers continue to feel the sting of rising oil, gasoline, and diesel costs as geopolitical tensions in the Middle East remain elevated, pushing gasoline prices to their highest levels in years while diesel could soon approach the $5-per-gallon mark nationally,” according to Patrick De Haan, head of petroleum analysis at GasBuddy.

“Until we see a meaningful resumption of oil flows through the Strait of Hormuz, upward pressure on fuel prices is likely to persist. At the same time, seasonal forces are beginning to intensify as several regions complete the transition to summer gasoline, creating a double headwind that could continue driving pump prices higher in the weeks ahead,” De Haan said.

Southwest of Las Vegas, Californians in San Bernardino and Riverside are paying prices that are 78 cents higher than Las Vegas, mostly because of state taxes.

The lowest price GasBuddy found in their weekly Las Vegas survey was $4.05 per gallon, and the highest price was $5.09. Statewide, the lowest price was $3.29. The highest was $5.99 per gallon.

Increasing diesel fuel costs are likely to translate into higher consumer prices for food and products that are shipped into Southern Nevada.

GasBuddy’s analysis looks at prices from 649 stations in the Las Vegas valley.