Gasoline Prices Rose as Energy Market Volatility Persisted
Higher fuel costs are impacting operating margins across logistics and transport sectors.
Updated on Sept. 28, 2026 in Oil and Gas
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The national average price for regular gasoline has climbed to $4.48 per gallon, marking a nearly 5-cent increase over the previous week. Elevated energy prices, driven by instability in the Strait of Hormuz, remain a core factor in persistent domestic inflation.
Why it matters
Rising fuel costs create direct margin pressure for businesses reliant on freight and transport, while simultaneously complicating the broader inflation landscape. These costs reflect ongoing volatility in critical Middle Eastern energy transport routes.
Regular gasoline prices hit $4.48 per gallon, up 5 cents over the prior week, while the iShares U.S. Oil & Gas Exploration & Production ETF closed at $133.70 on September 25, 2026.
The players
Kevin O'Leary
An entrepreneur and venture capitalist who monitors macroeconomic policy and its impact on inflation.
Donald Trump
The President of the United States who oversees national trade policy and international tariff negotiations.
Xi Jinping
The President of China who leads bilateral economic dialogues and trade agreements with the U.S.
The details
Energy prices are currently sensitive to the transport risks associated with the Middle East, which directly influence retail fuel costs. While tariff reductions on $30 billion of goods between the U.S. and China aim to stabilize trade, high energy input costs continue to act as a drag on operational overhead. Investors are tracking these movements through sector-specific assets like the IEO ETF, which reflected market sentiment with a 0.96% decline in price on September 25.
Timeline
September 2023 saw the gasoline price record reach $3.83 per gallon.
September 2026 recorded an average gasoline price of $4.30 per gallon.
The IEO ETF closed at $133.70 on September 25, 2026.
Kevin O'Leary commented on tariff strategy on September 27, 2026.
Market Landscape
The U.S.-China bilateral dialogue on artificial intelligence creates a forum for broader economic stabilization through tariff adjustments on $30 billion of goods. However, persistent energy price spikes continue to operate outside of these diplomatic frameworks due to structural transport route risks.
Operators should review fuel surcharges and logistics contracts to account for the sustained price volatility seen in late September. Adjusting operational budgets for higher energy inputs is necessary to maintain margin targets through the end of the year.
The takeaway
Energy costs remain a key inflation driver that can offset gains from trade policy shifts. Monitor the IEO ETF closing prices as a leading indicator for sentiment toward domestic energy exploration and production viability.
Further reading
For more on market volatility, see the latest Oil and Gas reports.
Source note: This article includes information reported by Benzinga.
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