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 Billions down the drain!

The Middle East risks boiling over and the cost of war is mounting... Gasoline prices keep outperforming - more pain at the pumps!
Published: 16 July 2026
Written by:
Will Cunliffe

Will Cunliffe

Research Analyst, The Officials
Will Cunliffe
and
Edward Hayden-Briffett

Edward Hayden-Briffett

Research Analyst, The Officials
Edward Hayden-Briffett
Reviewed by:
Jorge Montepeque

Jorge Montepeque

Head of Benchmarking, The Officials
Jorge Montepeque
Edition: Euro EditionVolume: 3Issue: 136
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The Middle East risks boiling over and the cost of war is mounting... Gasoline prices keep outperforming - more pain at the pumps!

The world is spending billions more every day on oil thanks to the war kicking off again. And the US is burning even more on the war itself! A US government report put the expected cost of the conflict at $100 billion! As if the debt mountain weren’t monumental enough already, they’re shovelling yet more dirt on top of it. US national diesel prices are back at $5/gal and gasoline is approaching $4/gal – the inflation risk is not over yet!

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The Officials publish outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.

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About Euro Edition

Benchmark reports published at the close of the trading day in London.

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