Every $10 Jump in Shipping Costs Adds 23 Cents to a Gallon of Gas, Economist Estimates

Every $10-per-barrel rise in shipping costs adds 23 cents a gallon to gasoline, an economist quoted by Reuters estimated October 15, 2026. Reuters also reported shipping costs topped 40% of crude oil's value that month. Ship rental prices fell from record highs in mid-October, then rose again by October 22. Gas prices may track shipping as well as oil.