Kansas gas prices stable, but could increase after Iran general killed, analyst says

Local News

(Office of the Iranian Supreme Leader via AP, File)

TOPEKA, Kan. (KSNT) – Despite rocky international oil prices after the U.S. assassination of Iran’s top general, gas prices stayed firmly below the national average Monday morning in Kansas. However, they could shift upwards in the coming weeks, according to a petroleum analyst.

Gasbuddy reports the average price in Topeka rested at $2.30 per gallon, going lower to $2.19 in Wichita and $2.21 in Kansas City. The national average rests at $2.57. Concerns of price surges arose after the U.S. killed Iranian General Qassem Soleimani in an airstrike at Baghdad’s international airport.

“There is a distinct possibility that escalations in tensions may have an effect on gas prices moving forward,” said Patrick DeHaan, Gasbuddy’s head of petroleum analysis. “For now, there’s been no physical disruption or retribution from Iran, but it has been promised. Oil markets have risen on the rising risk of Iran

While the $2.30 valuation shows little influence from the Iran strike, the price sits nearly 40 cents higher than Topeka’s $1.90 average in 2019. DeHaan said while there hasn’t been an increase yet, Kansas drivers could see it soon.

“For now, I could see a small 5-10 cent per gallon increase over the next couple of weeks,” DeHaan said. “The real potential for fireworks at the pump will be contingent on retaliation, and whether that retaliation targets oil infrastructure like Iran struck last year.”

For real-time reports on gas prices in Kansas, visit gasbuddy.com.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories