Costco issues urgent warning to shoppers
By Celine Provini
Published on March 9, 2026.
Gas prices have risen after U.S. and Israeli strikes on Iran, which have caused global oil prices to rise sharply. The national average for regular gasoline has jumped nearly 27 cents since last week to $3.25, according to AAA. This increase puts the national average at the same price as it was in early April of 2025. Despite this increase, Costco CFO Gary Millerchip remained optimistic about the dimming impact of inflation, citing significant unit and market share growth in eggs due to Costco's strong value proposition. However, he warned that the situation in the Middle East could potentially impact fuel costs and shipping schedules if it continues to rise. The average price of gasoline in the U.K. is expected to reach $4 per gallon by the weekend.
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