Investor Ross Gerber on Tuesday said “Gas prices back to the high,” posting on X that the station he tracks in California showed $6.30 per gallon and that pre‑war prices were $5 a gallon, adding, “It’s time for change in America.” He made the remarks as tensions continue to escalate between the U.S. and Iran, with missile strikes being exchanged in the Middle East.
Gerber, co-founder of Gerber Kawasaki, previously recommended shifting to electric vehicles and called EVs “wonderful alternatives” for consumers amid rising fuel costs and uncertainty over the Strait of Hormuz.
Gas Prices Rise and Market Signals
Patrick De Haan of GasBuddy said in a post on X that “The national average price of *gasoline* has risen 9.6c/gal so far today, the biggest one-day jump since April 30.” He noted the largest single-day rise in 2026 was 12.1c/gal on March 3. De Haan also highlighted U.S. refinery activity: “U.S. refinery utilization this year is now running at the highest rate this century- 93.4% so far,” and said the pace was the highest in 27 years, with summer’s average at 96.6%, “the 3rd highest summer ever.”
Prices and Oil Markets
According to the American Automobile Association, the national average price of gas on Tuesday was $4.1514 per gallon, while California’s average was $5.8658 per gallon. On the oil front, West Texas Intermediate crude oil futures ending in October were trading at $94.26 at press time, and Brent crude futures ending in November were at $99.44 at the time of writing.
