Gasoline and diesel prices are spiking

Summary

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Marketplace Morning Report – March 6, 2026

Episode Title: Gasoline and diesel prices are spiking
Host: Nancy Marshall Genzer (in for David Brancaccio)
Length: ~8 minutes
Theme: This episode covers the recent spike in gasoline and diesel prices driven by geopolitical conflict in the Middle East, and explores the broader economic and local community impacts—from transportation costs to supermarket booms in the Sunbelt states.

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Main Theme Overview

The episode centers on the sharp rise in gasoline and diesel prices following renewed war in the Middle East, examining the immediate economic impacts on Americans, the responses from the White House, and the ripple effects on consumer goods and supply chains. The episode also detours into the rapid growth of supermarket construction in Texas due to recent migration trends.

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Key Discussion Points & Insights

1. Gasoline Prices Spike Due to Middle East Conflict

• Rapid Increase: Gas prices increased by 34 cents within a week, the fastest rise since Russia’s 2022 invasion of Ukraine.
• Current Prices: Unleaded averages $3.32/gallon, up from below $3 just a week prior.

  “War in the Middle East has caused oil prices to spike, and right on cue, gas prices have also risen.” (Nancy Marshall Genzer, 00:12)

• White House Reaction: The administration is in talks with oil and gas CEOs about possible countermeasures; no current plans to tap the Strategic Petroleum Reserve, which remains 57% full.
• Presidential Attitude: President Trump shows little concern, telling Reuters, “if they rise, they rise.” He expects prices to drop when the conflict cools.

  “He was not planning to tap the country’s Strategic Petroleum Reserve, which is currently 57% full.” (Nova Safo, 00:43)

• Short-term Concern: Most analysts predict a temporary inflation impact, provided the conflict is brief.

2. Diesel Prices Surge Even More Dramatically

• New High: Diesel surpassed $4/gallon for the first time in almost two years, and is expected to keep climbing.
• Why Diesel’s Worse: Diesel’s price is more sensitive than crude oil, as Middle East crude is easier to refine into usable diesel and gasoline.

  “Diesel’s price is spiking way higher than crude oil’s.” (Morgan Bazillion, 01:48)

• Broader Impact: Even Americans who don’t drive diesel vehicles will feel the hit.
  • Diesel powers manufacturing and freight; higher prices mean increased costs for moving goods.
  • Airline ticket prices are rising along with jet fuel.

  “Prices for airline tickets will go up almost immediately. The price of jet fuel is spiking, too.” (Morgan Bazillion, 02:13)

• Supply Chain Ripples: Large shippers (like Amazon) can absorb higher costs temporarily due to negotiated rates, but smaller businesses may quickly pass on price hikes to consumers.

  “What’s really going to be affected is if you’re just mailing something to somebody else, or buying something from a small mom and pop business.” (Hugh Daigle, 02:43)

• Future Uncertainty: If the Strait of Hormuz is shut down, prices—and related costs—could soar even further.

  “If Iran completely stops shipping traffic in the Strait of Hormuz, it could be a lot.” (Morgan Bazillion, 02:53)

3. Sunbelt Supermarket Boom Follows Pandemic Migration

• Population Shift: Millions have relocated to Sunbelt metros (e.g., Texas, Florida, Arizona) for better opportunities and affordability, especially post-pandemic.
• Grocery Store Lag: Despite the influx, supermarket construction hasn’t kept pace.

  “Construction lagged in one very critical sector: grocery stores.” (Nancy Marshall Genzer, 03:51)

• Case Study – Dallas/Fort Worth: Dozens of new supermarkets are planned to meet pent-up demand.
  • Example: A newly opened Kroger (size of two football fields) serves the region’s growing population, with residents enjoying improved access and amenities.

  “You walk through the aisles, you’re like, oh, I might need this…you always come out with more.” (Yomira Funes, 04:40)

  • Real estate development follows the “retail follows rooftops” rule; new neighborhoods get anchored by major stores.
• Developer & Community Insight:
  • Bob Young (Weitzman): Pandemic prompted grocers to rethink location and customer experience. Pre-pandemic focus was on tech upgrades, now demand drives a building boom.

    “Demand has not stopped in North Texas.” (Bob Young, 05:47)

  • Steve Montgomery (Fort Worth Chamber of Commerce): Notes that while migration is slowing, new development is transforming Fort Worth, now the 11th largest US city.

    “Fort Worth is truly having a moment in terms of our growth. We’ve just crested a million people.” (Steve Montgomery, 06:11)

• Growing Pains: Residents appreciate new stores but lament increased traffic and infrastructure strains.

  “287… the roundabouts is it’s a, it’s a nightmare.” (Yomira Funes, 07:06)

• Potential Slowdown: Slower migration and stricter immigration may allow infrastructure and retail supply to catch up.

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Notable Quotes & Memorable Moments

• On Gas Price Spikes:

  “It’s the fastest price increase at the pump since the start of Russia’s war on Ukraine back in 2022.”
  — Nancy Marshall Genzer, [00:12]

• On Presidential Response:

  “If they rise, they rise.”
  — President Trump, via Nova Safo, [00:43]

• On Supermarket Shopping:

  “You walk through the aisles, you’re like, oh, I might need this... you always come out with more.”
  — Yomira Funes, [04:40]

• On Infrastructure:

  “287, the roundabouts is... it’s a nightmare.”
  — Yomira Funes, [07:06]

• On Retail & Community Development:

  “What does make a neighborhood? What makes a community? Somebody takes a risk. They get a house, they improve a road, then they get an anchor.”
  — Bob Young, [05:25]

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Timestamps for Key Segments

• Gas & Diesel Price Surge: [00:12] – [03:16]
• Sunbelt Supermarket Boom: [03:51] – [07:19]

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Conclusion

This episode provides a snapshot of the economic aftershocks from the Middle East conflict, demonstrating how quickly global events impact American wallets—especially at the gas pump and grocery store. The reporting also captures the vibrancy and growing pains in southern US cities as they race to accommodate new residents and rising consumer demand.

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Transcript

[Nancy Marshall Genser]

With VRBoCare, help is always ready before, during and after your stay.

[Yomira Funes]

We've planned for the plot twists, so support is always available because a great

[Nancy Marshall Genser]

trip starts with peace of mind topping up your gas tank. Brace yourself From Marketplace, I'm Nancy Marshall Genser in for David Brancaccia. War in the Middle east has caused oil prices to spike, and right on cue, gas prices have also risen. They're up 34 cents in a week, according to AAA. It's the fastest price increase at the pump since the start of Russia's war on Ukraine back in 2022. Marketplace's NovaSafo has more the average price

[Nova Safo]

for a gallon of unleaded gas is now $3.32, according to AAA. A week ago, the average was below $3 and had barely budged for weeks. Consumers tend to be sensitive to moves in energy and food prices. The White House says it's checking with oil and gas CEOs about possible countermeasures. But President Trump appears so far undeterred by prices at the pump, telling Reuters in an interview, if they rise, they rise. The president said he expects prices to drop again once the Middle east conflict subsides, and he was not planning to tap the country's Strategic Petroleum Reserve, which is currently 57% full. Generally, analysts agree that the inflationary impact from the war should be temporary, but only if it's short lived. I'm Nova Safo for Marketplace.

[Nancy Marshall Genser]

In addition to higher prices for regular gas, there's also this Diesel fuel topped $4 a gallon this week for the first time in almost two years. It's likely to get even more expensive. And as Marketplace's Kaylee Wells reports, even if you don't drive a diesel truck, this price spike is going to hit you.

[Morgan Bazillion]

Diesel's price is spiking way higher than crude oils. Morgan Bazillion at the Colorado School of Mines says that's because that crude oil

[Lifelock Representative]

that comes from the Middle east is a little easier to get gasoline and diesel from than other types of oil.

[Morgan Bazillion]

The US Uses diesel primarily for manufacturing

[Lifelock Representative]

and freight, so prices will go up for moving anything.

[Morgan Bazillion]

Bazillion says. Prices for airline tickets will go up almost immediately. The price of jet fuel is spiking, too. Whether the price of other goods goes up depends on where you get them from. Hugh Daigle teaches petroleum engineering at UT Austin.

[Steve Burns]

If you buy something from Amazon, say, because they're big, they have negotiated shipping rates with ups, the US Postal Service.

[Morgan Bazillion]

Daigle says those shippers will eat the extra diesel costs till they renegotiate which could be months from now.

[Steve Burns]

What's really going to be affected is if you're just mailing something to somebody else or buying something from a know small mom and pop business or something like that.

[Morgan Bazillion]

Just how much those prices go up? Tough to say. If Iran completely stops shipping traffic in the Strait of Hormuz, it could be a lot. I'm Kaylee Wells for Marketplace.

[Steve Burns]

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[Nancy Marshall Genser]

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[Lifelock Representative]

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[Nancy Marshall Genser]

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[Elizabeth Troval]

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[Nancy Marshall Genser]

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[Nova Safo]

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[Steve Burns]

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[Nancy Marshall Genser]

the past five years, millions of people moved to Sunbelt metro areas. In states like Florida, Arizona and Texas, they were chasing jobs and affordability. While much of that migration happened during and after the pandemic, construction lagged in one very critical sector, grocery stores. Now Southern cities are seeing a flurry of supermarket construction. One of the most active areas is Dallas Fort Worth, where dozens of new stores are in the works. As Marketplace's Elizabeth Troval reports, traffic zooms

[Elizabeth Troval]

by on Highway 287 from the parking lot of a brand new Kroger grocery store about the size of two football fields. It's windy and you might have Funes is wheeling her groceries to she came in for water but ended up with a cart full. Broccoli, eggs, stuff for her dog.

[Yomira Funes]

You walk through the aisles, you're like, oh, I might need this. You know, you come in for one thing and you always come out with more.

[Elizabeth Troval]

Since this store opened in October, it's become her supermarket of choice.

[Yomira Funes]

Well, because it's closer to my home. I live over here like a mile away. This Kroger here, the new one on Bond Ranch, I like it because the aisles are big.

[Elizabeth Troval]

She moved from up north to Fort Worth about a decade ago. Newcomers like her have spurred new supermarket construction in Texas, especially in Dallas Fort Worth. Inside what might be the largest Kroger I've ever seen, I talk with Bob Young, who helped develop this Kroger for real estate firm Weitzman. He turns wide open spaces into supermarkets that anchor new neighborhoods.

[Steve Burns]

What does make a neighborhood? What makes a community Somebody takes a risk. They get a house, they improve a road, then they get an anchor.

[Elizabeth Troval]

The rule is retail follows rooftops. But Young says grocery store construction has been lagging. That's because pre pandemic grocers were focused on improving store technology. Then Covid hit.

[Steve Burns]

But it was a catalyst for rethinking and cleaning up bad real estate and bad customer treatment. So now where are we? Demand has not stopped in North Texas.

[Elizabeth Troval]

Grocers like H Mart, H E B and Costco are building to meet that pent up demand. He estimates 34 new stores will open over the next two years. In Dallas, Fort Worth, Fort Worth is

[Steve Burns]

truly having a moment in terms of our growth. We've just crested a million people.

[Elizabeth Troval]

Fort Worth Chamber of Commerce CEO Steve Montgomery says it's nice to see all this new development in his hometown, which has become the 11th largest, largest city in the country. And unlike many major cities, we have a lot of undeveloped land for giant new grocery stores. But will the growth last?

[Steve Burns]

In prior years, you saw maybe higher migration, domestic migration to Texas, and you're starting to see that level out a bit.

[Elizabeth Troval]

Federal immigration policies are also capping growth. Perhaps a slowdown could allow for construction, supermarket or otherwise, to catch up. Montgomery says infrastructure is a pain point. And Kroger shopper Yomira Funes agrees. While she was pleased with the store, she was not so hot on all the new traffic.

[Yomira Funes]

287 the roundabouts is it's a, it's a nightmare.

[Elizabeth Troval]

But what's a growth spurt without some growing pains? In Fort Worth, Texas, I'm Elizabeth Trovall, Marketplace.

[Nancy Marshall Genser]

And in Washington, I'm Nancy Marshall Genzer with the Marketplace Morning Report. From APM American Public Media.

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