Las Vegas Valley gas prices primed to further rise as world events affect oil costs

Las Vegas Valley gasoline prices have climbed 14 cents over the past week as overseas conflicts persist, raising the prospect of averages exceeding $5 per gallon. The average price for regular unleaded in Southern Nevada reached $4.72 on Friday, up from $4.58 the previous week, according to AAA. Friday’s mark reflected a three‑cent increase from Thursday and was unchanged relative to a month earlier. Compared with the same day in 2025, when the average stood at $3.72, motorists are now paying roughly $1 more per gallon, AAA figures show. Patrick De Haan, lead petroleum analyst at GasBuddy, linked the movement to a range of geopolitical pressures. “Oil prices are down today, but they’re still up a bit from last week,” De Haan said Friday. “Today’s drop has to do with Pakistan trying to get the U.S. and Iran back to the same table.” De Haan noted that the strains extend beyond the United States and Iran. “The Houthis attacking in the Red Sea is problematic because it interrupts the flow of Russian crude oil. In addition, Ukraine’s attacks on Russian oil refineries are also pretty problematic,” he said. “Russia has curbed the export of diesel — 1 out of every 9 gallons produced globally of diesel comes from Russia. So that’s even more critical to the price of diesel.” Brent crude oil touched a six‑week high of $100 per barrel on Thursday before easing to $96.51 by Friday’s close, yet the recent uptick suggests further retail price increases are ahead. He said the converging issues are driving fuel costs upward, with every state reporting gains and the national average for unleaded rising 11 cents versus the same period last week. Should the overseas disruptions persist, De Haan warned that Southern Nevada could see its average approach $5 per gallon. “If it continues for a few more weeks, absolutely (prices could hit $5),” De Haan said. “You (Las Vegas) were previously above $5 in early June, and then you slipped back beneath that around June 7th. So, it’s been a month and a half since you last saw $5, but your highest was around $5.29 back on May 22nd. … I don’t think you’ll get there based on where we are at this moment, but the longer these situations go unaddressed, the more of a concern.”