Oil Attack in Saudi Arabia Means Gas Price Hike

Analyst says prices could go up 10 cents a gallon by next week

Tom Puckett
September 17, 2019 - 4:00 am
Categories: 

Buffalo, NY (WBEN) No it's not your imagination; you're paying more at the pump. That's because of the weekend oil facility attack in Saudi Arabia.

"Prices are already over $60 a barrel, which is significant because that's $10 more than what we paid last week," says Allison Mac of GasBuddy. "When I'm looking at Buffalo, we've gone up a penny a gallon. Now it doesn't sound like a lot, but this is happening when gas prices are going down because the end of the summer driving season is here."

Mac predicts gas prices will go up as much as a dime over the next week.

Mac says there's an effort to thwart the price hike. "Saudi Arabia says it's doing what it can to pump up its supply. Until that stabilizes, I think prices are going to continue to go up," says Mac, with Saudi Arabia saying the return to normal should last a week, so prices should remain higher for a couple of weeks.

 

Comments ()