If the situation in the Middle East continues to spiral downward how high will g

  1. point2make profile image82
    point2makeposted 6 years ago

    If the situation in the Middle East continues to spiral downward how high will gas prices get?

  2. robie2 profile image97
    robie2posted 6 years ago

    I am thinking that on a short term basis, gas prices could rise to $5.00 a gallon --  but I think that once things settle down in the Middle East( that is to say fighting resolves and some sort of order returns ) they will settle at a lower level. The markets hate uncertainty but can adjust to almost anything else.

    The bigger danger IMHO is long term inflation brought about by the increase in prices for oil based plastics

  3. nightwork4 profile image60
    nightwork4posted 6 years ago

    the irony is that there is enough oil outside of the middle east to suit the needs of north americans but the problems there are just an excuse to raise the price of fuel. lybia only makes about 1.4% of the worlds oil but since they have had problems lately, big oil uses this as a way to justify increasing the price.

 
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