As the war in Iran continues, so does the growing concern over the impact on your budget. There was a roller coaster on Wall Street – the Dow was down Tuesday, up Wednesday and back down by almost 800 points Thursday, which is likely to impact 401K accounts. A lot of economic concerns from t his war is the oil, with the price of barrel jumping and triggering a jump at the pump. According to AAA, the national average for a regular gallon of gas has jumped nearly 27 cents since last week; on Monday, NBC Bay Area visited Chevron gas station in San Francisco that raised its prices by 20 cents a gallon in three days. Oil Gas Mar 3 Rising oil prices could increase Bay Area gas prices Iran Mar 2 How the war in Iran may impact gas prices In San Jose, Petro Fuel, another gas station, raised its prices by a dime in three days. Kelly Folk, who moved from Texas to California, was having a hard time dealing with gas prices. “We just moved from Texas, so this is outrageous,” she said.  Prices at the Chevron gas station where Folk filled up are now near $6 a gallon, which is a sticker shock compared to what she paid before she moved to California. “It’s three dollars more, probably, per gallon. On bikes it’s easier, but our car and truck we have is a lot.” Close to 20% of the world’s daily oil consumption moves through the strait of Hormuz, which is now under direct threat because of the conflict. “The fundamental problem is nobody knows what’s going to happen in this war,” San Jose State Professor of strategic management Dr. Robert Chapman Wood said. Wood said the instability in the Middle East will lead to unstable gas prices in California, even though the state gets most of its crude oil from Alaska. “Very little of California’s oil comes from the Middle East, but it’s a world market, prices going up everywhere,” he said. Some delivery drivers NBC Bay Area spoke to said the gas prices could impact how many hours they decide to work. “The gas prices are high, so I do evening time, two-three hours that’s it. Not like full-time,” Deepak Deepak said. “For me it’s like nobody is giving us tip sometimes, so for us, if gas goes up, there’s no benefits for DoorDash,” Baljit added. Now some are warning that adding in proposed new climate regulations in California provides a recipe for long-term price hikes. “California has a very unique gas price with regards to its gas taxes and other types of taxes placed on refineries, that’s why you had a few close in the state in the past several months,” Matt McClain with GasBuddy said. With so much uncertainty, drivers are adjusting to what could be a new normal. “Considering an electric car is a top priority for us and I actually might switch over to an electric car sooner rather than later just because of the gas prices,” Brasfield said. ...read more read less