Brandon Parsons Discusses Potential Gas Price Surge on Fox 11 News

As tensions in the Middle East escalate and global energy markets react, economist and Pepperdine Graziadio Business School faculty member Brandon Parsons joined Fox 11 News to discuss what the developments could mean for gas prices in the United States.

Recent military activity in the region has raised concerns about stability in key oil-producing and transport areas, including the Strait of Hormuz, a corridor through which roughly 20 percent of the world's crude oil flows each day. While U.S. Central Command reports the passage remains open, global oil markets posted their largest one-day gains in years amid intensifying uncertainty.

Speaking with reporter Laura Diaz, Parsons focused on the economic implications for consumers if instability continues.

"Whether they go up 50 percent, it wouldn’t be shocking to me," Parsons said, referring to potential gasoline price increases. "Especially if the conflict worsens and other actors get involved."

Parsons' analysis focused on how quickly energy markets respond to geopolitical uncertainty and how those movements can translate into higher pump prices.

In the segment, Diaz reported that many drivers are already carefully comparing gas prices as household budgets remain tight. She also noted that economists expect price shifts in global oil markets to move relatively quickly into retail fuel prices. Additionally, Diaz explained that federal officials have options available to address severe supply disruptions, including the possible release of oil from the U.S. Strategic Petroleum Reserve.

As global markets continue to monitor developments overseas, Parsons underscored that prolonged instability could sustain upward pressure on energy costs, directly affecting American consumers.

View the full segment here.