Gas prices in Phoenix rise with Iran conflict. Here's how much [USA TODAY]
Walmart Inc. (WMT)
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Source: USA TODAY
The current high rates at the pump could increase for Arizona consumers because of the widening conflict after U.S. and Israeli forces fired missiles at Iran, analysts and local experts said. Strikes began Feb. 28 in a campaign that has spread across the region. Iran's retaliatory drone and missile strikes have targeted U.S. military bases, Israel and neighboring Gulf states. Although AAA spokesperson Julian Paredes said a boost in gas prices is normal during the spring break season as refineries switch to a costlier-to-produce summer blend of gas, he added the conflict is not a positive contributor to what consumers pay. Why did gas prices go up? The conflict had lifted crude oil prices by about 6%, according to Paredes. "The cost of oil is the biggest way a conflict all the way in Iran can impact Arizona," Paredes said. "Oil prices are global, and (oil is) the biggest ingredient for gas. So, if oil prices are high, gas prices will be higher for everyone." Brent crude, a
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