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Israel May Raise Prices At The Pump

March 16, 2012 by  

Israel May Raise Prices At The Pump
PHOTOS.COM
Gas could go as high as $6 per gallon because of an Israel/Iran conflict.

Supporting Israel’s ambition to attack Iran may also mean supporting an attack on the pocketbooks of average Americans who are already battling a troubled economy.

Market analysts predict that an Israeli strike on Iran could push the price of regular gasoline to a national average of $5 to $6 per gallon, higher than the record high average of $4.11 per gallon in 2008.

According to The Hill, the United States does not import oil from Iran, but U.S. gasoline prices are tied to crude prices set on global markets which would be affected by Iranian oil disruptions.

While President Barack Obama and some GOP Presidential candidates have been mentioning gas prices as a political issue in the past couple of weeks, oil experts and economists say the issue is largely out of the President’s hands.

According to The Washington Post, oil prices have been most heavily influenced by oil exploration, automobile design and ingrained consumer habits combined with political events in places such as Sudan and Libya, anxiety about possible conflicts with Iran, and the energy aftershocks of last year’s earthquake in Japan.

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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