You are currently viewing Gasoline Prices Likely to Rise as Israel Targets Iran’s Energy Infrastructure

U.S. oil prices already jumped last week, which could cause prices at the pump to rise about 20 cents a gallon in the coming weeks, according to one estimate.

American consumers are likely to start feeling the impact of the escalating conflict between Israel and Iran, as more expensive oil causes prices at the gas pump to rise.

U.S. oil prices jumped 12 percent from Tuesday to Friday, to $72.98 a barrel, and energy prices may climb higher after Israel struck several Iranian oil and gas facilities over the weekend. Those included one of the world’s largest natural gas fields, known as South Pars; Tehran’s main gas depot; and an oil refinery.

Last week’s increase in oil prices could cause gasoline prices to rise about 20 cents a gallon in the coming weeks, according to ClearView Energy Partners, a Washington research firm.

Oil and fuels like gasoline and diesel had been relatively cheap leading

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