Don't worry... OPEC is screwed. Iraq has massive oil production capacity... prices will return to normal before too long.
Not so fast. There are some heavily armed groups that don't want to see that happen.
Also, Fortune printed a scenario earlier this year. Saudi Arabia decides to teach Iraq a lesson, and floods the world with oil. The price is lowered temporarily, depriving Iraq of the profits it needs to get going again. (The Iraqi oilfields haven't seen investment since, oh, 1990.) Then Saudi Arabia can raise the price at will.
Would they do this? Why not? We would cheer the Saudis as "partners in freedom," and who cares about the Iraqis. Meanwhile Saudi Arabia defends the status quo against the very threat you described. Iraq, having the world's second-largest proven reserves, is a future challenge to Saudi control; this is Saudi Arabia's chance to nip it in the bud for years to come.
To answer the original question, premium's $1.85 a gal here in the mid-Atlantic states. Don't remember what regular is, since I pretty much stopped driving the cage before the war.