Bronxites concerned about potential gas price surge amid strike on Iran
United States crude rose about $8 a barrel to around $75.
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The big talker this weekend was the strikes on Iran and the thought about it's impact our gas prices. According to analysts a gallon of gas could rise more than 25 cents.
United States crude rose about $8 a barrel to around $75. Brent Crude, the international benchmark jumped more than 12% to about $82 a barrel. Analysts predict a sharp but short-term spike that may push the national average for a gallon of regular gas above $3. This comes right ahead of summer driving season.
Iran is a top 10 global oil producer, and they control the Strait of Hormuz, it’s a water passage where 17,000,000 barrels of oil pass through each day. The prices for those barrels of oil have jumped which is sparking panic regarding supply shortages.
The duration of the oil price surge solely depends on how long this conflict in the middle east lasts.
