The Brief Bay Area gas prices have climbed to an average of $5.67 per gallon—up $1.05 from a year ago—amid ongoing international conflict and crude oil market volatility. Military experts and economists warn that low global oil reserves and Houthi attacks on key shipping choke points like the Bab-el-Mandeb strait are driving up pump prices. Industry analysts indicate that crude oil prices may not return to pre-war levels until the fall of 2027, leaving drivers facing long-term financial strain. Oil prices recently dipped below $100 a barrel following reports of potential U.S.-Iran talks mediated by Pakistan. While global oil reserves exist, easily accessible reserves—including U.S. government stockpiles—are running exceptionally low.