Iran conflict one of several factors causing gas prices to rise, GasBuddy says

Iran war spikes gas prices as oil hits $80

Driven by a combination of geopolitical volatility and seasonal shifts, gas prices are currently experiencing significant upward pressure. The primary driver is the "fear premium" following joint U.S.-Israeli strikes in the Middle East.

ATLANTA - As the conflict between the United States, Israel and Iran continues, some of the effects of the operation are being felt at gas stations across the Atlanta metro.

What is Operation Epic Fury?

What we know:

Operation Epic Fury, a joint operation between the United States and Israel against Iran, has so far led to the death of the Iranian Supreme Leader, Ayatollah Ali Khamenei and dozens of top officials. 

'We don't know where it's going'

What they're saying:

Robert Kennedy is the chairman of the board for the Atlanta Council on International Relations.

The council is a local non-partisan, non-profit organization focused on educating people in North Georgia about complex foreign policy issues. 

"From a military perspective, it has been extraordinarily well executed," he said. "This is not uncommon. Our military is incredibly capable, well-trained and well-disciplined. From a political point of view, we don't know where it's going."

Kennedy added that he remains pessimistic about whether the conflict will successfully help the Iranian people overthrow the current government.

Gas prices to increase

By the numbers:

GasBuddy's website states a regular gallon of gas in the Atlanta area reached an average price of $2.91 by midnight on Monday. 

According to GasBuddy, the conflict’s impact on the pump isn't necessarily about Iran’s direct oil production, but rather the stability of the Strait of Hormuz.

"About 20% of the world's daily oil supply goes through the strait," said Patrick De Haan, head of petroleum analysis at GasBuddy. "The Strait of Hormuz essentially being closed because of the threat of attacks is what's causing oil prices to jump nearly eight percent a barrel [Monday]." 

The increase in prices has led some families to stretch their wallets to fill up their vehicles. 

"We live on a low-income family, and we try our best, and it's hard when you start having to come up with $40 or $50 to put gas in your car," Louis Lovinggood of Cobb County said.

What happens next?

What's next:

GasBuddy said if the Iran conflict were to end in the next few days, people in Atlanta would more than likely see a $3 per gallon average due to seasonal factors.

However, if the geopolitical situation stabilizes soon, De Haan said prices could fall back below that threshold in time for Memorial Day weekend.