image description

Attack On Israel May Hike Gas Prices

October 10th, 2023 by WCBC Radio

The attack on Israel by Hamas may be a driver in future gas prices for Maryland.  While Israel is not a major world oil producer, experts say crude oil prices may rise if other countries in the region are drawn into the conflict.  On Monday, the price of oil was approaching $90 a barrel as traders drove the price up over last week’s close.  Israeli counter-attacks could draw Iran or other countries into the conflict and spark higher oil prices that will aggravate already high pump prices due to Maryland’s 47-center per gallon state tax.