OMAHA, Neb. (KMTV) — Gas prices are rising in North Downtown Omaha as global oil supply disruptions tied to the U.S.-Iran war continue to impact fuel costs.
At NP Mart near 24th and Cuming, owner Arshad Nazir said there have been several days over the past two weeks when his station has not made a profit.
Just two weeks ago, Nazir said he was paying less than $2.50 per gallon for regular gas. Now, the cost has climbed to about $3.05 per gallon.
E-10 gas at the pump was selling for $3.49 on Friday, which Nazir said is about 80 cents higher than before the conflict between the United States and Iran began nearly two weeks ago.
“Sometimes people think when gas prices go up, gas stations are making more money. That’s actually the opposite. We are feeling the pain like the customers,” Nazir said.
Drivers filling up at the station said they are also feeling the impact.
“I think they’re a little overpriced right now,” said Dominique Glass, a North Omaha resident.
“It’s just so fun to drive, but it’s not fun to be at the pumps,” said Frederick White, a South Omaha resident.
“Could have certainly been averted as well,” said Brady Carroll, who lives in nearby Carter Lake.
Government data shows about one-fifth of the world’s crude oil passes through the Strait of Hormuz, which the Iranian military has effectively closed during the conflict.
Jane Liu, an economics professor at the University of Nebraska Omaha, said rising fuel prices can trigger broader economic effects.
“The rising cost will eventually reflect in your bill,” Liu said.
Nazir said higher gas prices are also affecting his store’s other sales because customers are spending more on fuel and less on items inside the store.
“And the low-income, hard-working communities we serve in Nebraska, the peoples are feeling the pain,” Nazir said.
He said he does not expect the price he pays for fuel — or what customers pay at the pump — to drop until the conflict between the United States and Iran ends.
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