In a time when everything seems to be more expensive, the last things many Americans wanted to feel was pain at the pump. But that’s exactly what has happened in just a matter of days. Prices for a gallon of gas have spiked in less than a week. At a gas station in Long Island’s New Hyde Park, drivers Monday found the price of regular at $3.39 a gallon — 20 cents higher than it was Thursday. “And next Thursday it will be 20 cents more,” said driver Daniel Valdner. “It’s discouraging and frustrating, you know. They got us over a barrel.” Iran Mar 8 As oil tops $100 a barrel, Schumer demands Trump tap Strategic Petroleum Reserve Middle East Mar 8 Oil hits $100 per barrel for first time since July 2022 Oil Gas Mar 7 Oil and gas prices rapidly rise as Iran war shows no signs of letting up That barrel (of oil) is costing more each day, as the war in the Middle East continues. In about a week’s time, AAA said the price of regular in New York has jumped 44 cents a gallon. On Long Island, it’s even worse, at 48 cents per gallon. Connecticut has seen an increase of 44 cents as well. Gas in New Jersey was up 43 cents per gallon. “We look at it, that’s it’s a blip,” said Chris Daniello, who represents the owners of 500 gas stations and repair shops on Long Island and in Queens. Like everyone else, he and the station owners are hoping prices won’t stay elevated much longer. “They feel the same crunch as you, paying the higher prices for their own gas,” Daniello said. “They’re hurting also, they feel like the customers do.” The cost for diesel is also up, roughly 40 cents a gallon in a few days. Since trucks rely on that fuel to move household items, the price of those things could be headed up as well. In a similar vein, the cost of home heating oil is going up as well — and once again, the increases are getting passed onto the customer. Home heating oil prices statewide, according to the New York State Energy Research and Development Authority, are up 11%, now averaging $4.41 a gallon. That’s up 10 cents in a week. At this time in 2025, it was $3.97.  Ships hauling fuel are almost at a standstill around the Strait of Hormuz, one of the world’s most important shipping lanes. That can affect sea, land, and air travel.  The U.S. is the number one oil producer in the world, but one economist refers to the lack of “spare capacity.” “The countries that do have spare capacity are countries like Saudi Arabia and the UAE. And those are the ones that normally in a situation like this, they’d increase production, but we’re seeing them do just the opposite. And so that’s the big concern,” said Hisahm Foad, a professor of economics at San Diego State University. The Argus U.S. Jet Fuel Index says jet fuel prices have nearly doubled in recent weeks. And jet fuel makes up 25-30% of an airline’s operating cost — the second-biggest expense after labor — according to the International Air Transport Association.  United Airlines has already warned of possible higher ticket prices.  ...read more read less