Metro Atlanta gas prices make ‘startling’ jump amid Middle East conflict

Diesel fuel, commonly used for heavy-duty trucks and commercial vehicles, has risen to an average price of $4.34 in metro Atlanta, according to AAA. That’s up from an average of $3.62 last week.

“It’s jumping up very, very quickly,” Jeff Banks said Friday morning as he filled up his box truck at a Decatur-area gas station, where diesel cost $4.69 per gallon. “It’s definitely startling every time I go look at prices.”

Banks is the owner of King Cube, which delivers hand-cut ice to bars and restaurants, such as Kimball House and Delbar, according to its website. The company has drivers on the road about 60 hours per week, driving as far as Athens or Fayetteville, he said.

“We fill this up almost daily,” Banks said, pointing to the box truck. The company might have to look at delivery fees if fuel prices continue to be elevated, he said.

There are also implications for air travel as jet fuel reached $3.95 a gallon on Thursday, up almost 60% since last Friday, CNBC reported.

The surging energy costs come as the armed conflict in the Middle East has disrupted energy production and shipping through a critical oil export route known as the Strait of Hormuz. Traffic through the narrow waterway, where about a fifth of the world’s crude oil and natural gas travels, has substantially slowed amid attacks from Iran.

The U.S. is not likely to see oil shortages or supply issues because it imports only a small percentage from the Middle East, said Matt McClain, an analyst with Gas Buddy, which is owned by Alpharetta-based PDI Technologies.

“The vast majority we really get is basically from our own domestic production (and from) our friends in Canada and Mexico,” he said.

But the war impacts crude oil prices, which are ultimately passed down to consumers at the gas pump.

Oil prices jumped Friday after Qatar Energy Minister Saad Sherida al-Kaabi told the Financial Times the war could cause Gulf exporters to shut down shipping within days, predicting oil could surge to $150 a barrel.

The markets also reacted to President Donald Trump saying Friday on social media platform Truth Social that “There will be no deal with Iran except UNCONDITIONAL SURRENDER!”

As of mid-day Friday, U.S crude oil reached $90 per barrel and global benchmark Brent was more than $92 per barrel.

U.S. Energy Secretary Chris Wright told ABC News in a Thursday interview that oil price increases would be short-lived.

“It’s brief,” Wright said when asked how long people can expect higher prices at the pump. “It’s very temporary. This is a 47-year-long conflict with Iran that finally will come to an end in the next few weeks. We don’t know the exact length, but pretty temporary.”

Wright added later in the conversation that the “world is at absolutely zero risk of running out of oil or energy through this conflict, but we are suffering short-term price dislocation that will be over soon.”

The price of fuel does tend to rise in spring as refineries switch to their more expensive summer blends and warmer temperatures spur demand for more travel, AAA-The Auto Club Group spokesperson Montrae Waiters previously told The Atlanta Journal-Constitution.

According to AAA, the highest recorded average price for regular unleaded gas in metro Atlanta was almost $4.55 in June 2022, after Russia’s invasion of Ukraine. Diesel reached nearly $5.56 the same day.

Gas prices are now escalating as metro Atlanta residents have dealt with higher prices on other everyday necessities such as food.

While the metro area’s inflation rate has been running below national averages, that is largely because transportation costs, including gas, declined almost 6% in December from the prior year, according to the most recent data available. Meanwhile, food prices were up 5% in December year over year in metro Atlanta.

“A lot of Americans are price sensitive right now,” said McClain with Gas Buddy. “We’ve dealt with a lot of inflation over the last several years, and that has strained a lot of family budgets.”

As drivers grapple with higher prices at the pump, McClain suggested they slow down their speed and ensure their vehicles are properly maintained.

“The more efficient we are with how we drive, the more we’re going to save in fuel efficiency,” he said. “That’s really the No. 1 way that we can help combat the rising price right now.”

- Staff writer Savannah Sicurella contributed to this report.