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The war in the Middle East is hitting us on several fronts, shaking the financial markets, squeezing our 401(k)s, and snarling global travel. One of the most immediate and inescapable impacts on our everyday lives? The spike in gas prices.

The national average price for a gallon of regular unleaded has climbed 54 cents in the last eight days, reaching $3.54 on Tuesday, according to AAA. Diesel has moved even faster, jumping to $4.78 from $3.77.

“Gasoline prices in many states could climb another 20 to 50 cents per gallon this week,” Patrick de Haan, head of petroleum analysis at GasBuddy, posted online Monday. Diesel could soar another 35-75 cents, he said.

The U.S.-Israeli war with Iran has paralyzed tanker travel through the Strait of Hormuz, pushing up the price of crude oil and the fuels made from it. The deep, narrow passage between Oman and Iran is one of the world’s most important oil chokepoints. Under normal circumstances, an average of 20+ million barrels moves through it each day, according to the U.S. Energy Information Administration (EIA.) That’s roughly one-fifth of the petroleum consumed globally.

Although the U.S. has reduced its dependence on oil imports, economists are already warning there could be broader impacts on the economy if the war lasts. Because the trucking, rail, farming, and construction industries all rely on diesel to keep goods moving, the prices of groceries, deliveries, and other everyday purchases could also rise. Plus, research shows Americans tend to put off major purchases when gas prices are high.

So what?

The war has been a shock to global oil markets, but also our wallets: Gas hasn’t risen this fast in years.

In the near-term, there are several steps you can take to stretch your fuel budgets:

•   Tap into apps. GasBuddy and iExit can help you find nearby stations with the cheapest gas, while navigation tools like Waze can steer you around traffic that wastes time and fuel.

•   Maximize loyalty programs and credit card rewards. Grocery shopping at supermarket chains such as Kroger, Albertsons/Safeway, and Stop & Shop can earn you points that translate into discounts at the pump. There are also many credit cards that reward gas purchases with cash back or a discount per gallon. You might even be able to double dip, benefiting from both types of rewards.

•   Skip the premium grade. Paying extra for premium won’t necessarily improve mileage. As long as it’s not required, there’s no benefit to using premium if the vehicle is designed to run on regular gas, according to a AAA analysis.

•   Slow down. Cutting highway speeds by 5–10 mph can improve fuel mileage by as much as 14% because fuel economy peaks around 50 mph. For every 5 miles above 50 mph, it’s like you’re paying an additional 22 cents a gallon, according to the EIA.

•   Avoid idling. Idling burns fuel — roughly a quarter to a half gallon per hour. The EIA recommends shutting off your engine if you’re going to be idle for over 10 seconds.

•   Maintain tire pressure and avoid transporting excess weight to improve fuel efficiency. An extra 100 pounds could increase your gas costs by up to 3 cents a gallon, according to the EIA.

Budgeting ahead can also take some of the sting out of higher gas prices. AAA’s Gas Cost Calculator can help estimate the cost of a specific trip.

Related Reading

5 Ways Oil Prices Over $100 a Barrel Could Hit Your Wallet (Yahoo Finance)

What Determines Gas Prices? (Energy Information Administration)

How to Find Cheap Gas Near You (Reader’s Digest)

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