Ross Gerber says Iran's leverage over Hormuz will not last
Ross Gerber said Iran's leverage over a small part of the ocean won't last, as diesel prices hit a new U.S. national average record of $5.820 per gallon.
Amid escalating tensions between the U.S. and Iran, the national average price of gas has surged.
Still, an often-overlooked aspect has been the cost of diesel, which, according to GasBuddy analyst Patrick De Haan, hit a new high on Thursday.
Diesel Surpasses 2022 Record In a post on X on Thursday, De Haan outlined surging diesel costs. “The live U.S. national average price of diesel has set a new record: $5.820/gal,” he said, adding that the figure had surpassed the “previous daily $5.819/gal all-time high that occurred June 17, 2022.” BREAKING: according to GasBuddy data, the live U.S. national average price of diesel has set a new record: $5.820/gal, surpassing the previous daily $5.819/gal all-time high that occurred June 17, 2022. (9/3/26 3:25pm ET) — Patrick De Haan (@GasBuddyGuy) September 3, 2026 De Haan also responded to a user who asked if the price will surpass the 2022 average on a yearly basis. “Very possible around late Sept early Oct yes,” the analyst said.
The diesel crack spread, which is the profit margin that refineries earn from refining crude oil to diesel, earlier surged to a record high of $102/bbl. very possible around late Sept early Oct yes — Patrick De Haan (@GasBuddyGuy) September 3, 2026 According to data from the American Automobile Association (AAA), the national average price of diesel was $5.7832/gallon on Thursday.
Diesel in California surpassed the $7 mark to $7.6034/gallon on Thursday.
Read Also: Trump Wants More Refineries Amid Iran War Oil Shocks, $4 Gas—It May Not Be As Simple Ross Gerber Touts EV Shift Investor Ross Gerber of Gerber Kawasaki, amid surging fuel prices, touted shifting to EVs. “Gas prices are rising again as the Iranians want US consumers to pay for trumps war,” he said, adding that Iran was hoping the inflation would “win the war for them.” He then said that alternative energy and EVs were “wonderful alternatives” amid surging energy prices. “Iran’s little leverage over a small part of the ocean won’t last,” he said.
Notably, the investor had earlier said that the Iran war presented a good opportunity to end the world’s dependence on oil.
Gas prices are rising again as the Iranians want US consumers to pay for trumps war.
Their only hope is that inflation will win the war for them.
Everyday alternative energy solutions and EVs look like wonderful alternatives.
Iran’s little leverage over a small part of the ocean… — Ross Gerber (@GerberKawasaki) September 3, 2026 Trump To End Iran War? Amid the uncertainty and missile strikes, President Donald Trump reportedly spoke to Pentagon officials about possibly declaring an end to the Iran war, as the economic strain posed by the situation could worsen the high costs ordinary Americans are grappling with.
Earlier, the Trump administration had approved a “tanker for tanker” policy against Iran, targeting two Iranian government vessels parked in the region.
The administration also exchanged missile strikes with Tehran, with one of the U.S.’s strikes hitting a wedding ceremony in Kuhestan, Iran, resulting in the deaths of four people, including a child.
Read Also: Mark Carney Slams Trump Trade Talks Over ‘Uncompetitive’ Terms for Autos, Other Industries: Says American Auto Industry Is 'Stronger' Because of Canada Check out more of Future Of Mobility coverage by following this link.
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