Gas prices moving up after attack in Gulf region

Chris Miller
September 17, 2019 - 12:35 pm
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Your next fill-up may cost you a lot more than what was expected just a few days ago. The attack on a Saudi oil facility is sending ripples throughout the world.

"I think it's going to cause gas prices to go up in fairly short order," said Patrick DeHaan, an analyst with GasBuddy.com. "By Wednesday-Thursday, and especially Friday, most stations will have started passing along the increase." 

DeHaan says the disruption to the global supply chain is significant,"to the tune of about five million barrels a day, which is about five percent of global production."

How much of an increase can we expect?

"I've been goving conservative estimates of 15 to 30 cents," said DeHaan, with the caveat that further violence in the Gulf region could disrupt things even longer.

DeHaan says the price at the pump  may not fall back to what we've had up to now until maybe Halloween.

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