Experts have warned that a U.S.-Israel conflict could immediately impact gas prices, as well as oil prices, following the US and Israel's attack on Iran, which is the fourth-largest oil producer in OPEC. The average price of unleaded gasoline in the US. is currently $2.997 a gallon, up 2% from a week ago, according to AAA. Ken Medlock, senior director at the Center for Energy Studies at Rice University's Baker Institute, said that if the price of oil goes up by $10 a barrel, the price could rise by about 25 cents a gallon. A prolonged conflict with Iran could disrupt crude oil supplies and push prices even higher. The largest component of the retail price of gasoline is the cost of crude oil, which can be passed along if restrictions through the Strait of Hormuz are seen as a key oil corridor. Analysts have also warned that prolonged disruption of the Strait could push oil prices above $100 per barrel. The increase in oil prices could strain household budgets and affect consumer sentiment and the economy.