AAA: Rising gas prices fueled by uncertainty in Middle East
Demand is on the rise as summer driving season shifts into high gear, AAA Northeast says, but the escalating conflict in the Middle East is also contributing to a spike in gas prices.
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Summertime normally means higher gas prices, but experts claim there are additional factors behind the bump at the pump this year.
Demand is on the rise as summer driving season shifts into high gear, AAA Northeast says, but the escalating conflict in the Middle East is also contributing to a spike in gas prices.
“Between 30-50% of the world's oil and natural gas comes out of the Middle East," says University of New Haven economics professor John Rosen. "If there’s a full-blown war, and that spigot is turned off, prices go up, they go up quickly and they go up a lot."
AAA Northeast says the average price for a gallon of gas in Connecticut has gone up 8 cents since last week, and drivers have noticed.
"I just looked at the price, and I see that it’s $3.03, but it was like $2.95 a week or two ago," says Malaury Bien-Aime, of Norwalk. "That’s a big shift."
Drivers say current gas prices won’t deter them from traveling this summer, but it’s something they’ll keep an eye and make changes if necessary.
"It’s the unknown," says Jane Smith, from Norwalk. "I hope they don’t go up, I hope they’re on their way down."
