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Israel May Raise Prices At The Pump

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Unread 03.15.12, 09:11 PM
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Israel May Raise Prices At The Pump

03.15.12 09:01 PM

Supporting Israelís 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 Presidentís 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 yearís earthquake in Japan.




http://personalliberty.com/2012/03/1...s-at-the-pump/
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