As of today, March 11, 2026, Crestview residents are feeling the pinch at the pump. Recent turmoil in the Middle East, particularly the ongoing conflict in Iran, has led to significant disruptions in global oil supplies. This situation has resulted in a sharp spike in crude oil prices, which have surged to over $100 per barrel, marking a historic increase in energy markets. With the conflict intensifying, energy exports from the region have stalled, raising immediate concerns about potential supply interruptions in an area already critical to global oil infrastructure.

The escalating conflict has not only pushed oil prices higher but has also raised gasoline costs for consumers everywhere. According to GasBuddy, the ten cheapest gas stations in Crestview as of March 10 at 4:40 PM are as follows:

  • Exxon, 698 N Ferdon Boulevard: $2.99 per gallon
  • Shell, 775 Main Street: $2.99 per gallon
  • Petro Express, 510 N Ferdon Boulevard: $3.02 per gallon
  • 87 Depot, 202 James Lee Boulevard: $3.05 per gallon
  • Circle K, 4980 S Ferdon Boulevard: $3.05 per gallon
  • Tom Thumb, 802 N Ferdon Boulevard: $3.05 per gallon
  • Tom Thumb, 5100 S Ferdon Boulevard: $3.09 per gallon
  • Tom Thumb, 1992 James Lee Boulevard W: $3.19 per gallon
  • Tom Thumb, 1098 S Ferdon Boulevard: $3.19 per gallon
  • Tom Thumb, 438 James Lee Boulevard: $3.19 per gallon

The Broader Impact of Oil Price Increases

The ramifications of the conflict extend beyond just gas prices. In the first week of the war, Brent crude oil prices jumped by an astounding $12.93 (18%), followed by another increase of $7.28 on March 6, culminating in a total rise of $20.21 (28%) from prewar levels. As markets opened, Brent crude reached as high as $119 per barrel, though it later settled back toward $100. The instability in the region has led to attacks on vital oil fields and infrastructure, further exacerbating supply concerns.

To stabilize oil and gas prices, experts argue that normal seaborne exports from the Mideast Gulf, which account for 20 million barrels per day of crude oil and refined products, must resume. However, this can only happen if hostilities cease or if Iran’s capability to disrupt shipping is neutralized. With tankers navigating the Strait of Hormuz facing numerous threats, including anti-ship missiles and naval mines, the situation remains precarious.

Local Effects and Future Outlook

As gas prices continue to climb, local experts warn of potential long-term economic consequences if the conflict persists. For example, the Iranian Revolutionary Guards have already targeted several tankers, leading to a blockade of the Strait of Hormuz, a crucial trade route for oil. Currently, over 200 vessels, including oil and gas tankers, are stuck near this vital chokepoint, raising fears of further supply disruptions.

Despite these challenges, some relief may be on the horizon. OPEC+ has decided to increase production by 206,000 barrels per day, and the International Energy Agency is monitoring the situation closely for possible strategic oil reserve releases. However, for Crestview residents, the immediate concern remains: how to cope with rising gas prices and the potential for further hikes in the months to come.

For more insights on the current gas prices and the factors influencing them, check out the full article on Crestview Bulletin, and for a deeper understanding of the geopolitical context, visit CSIS.