Statewide Iowa — (RI) — An attack on oil production facilities in Saudi Arabia will lead to higher prices at gas pumps in Iowa and elsewhere.
Mark Peterson of Triple-A Iowa says the world’s largest oil facility was hit.
Last weekend, gas prices were around two-dollars-and-40-cents ($2.40) a gallon. Experts predict the price will jump about 25-cents by the end of September. Peterson says how long the higher prices last depends upon how long the Saudi facilities are down.
Wholesale gasoline prices were 15 cents a gallon higher nationwide by midday Monday. President Trump has said he’s prepared to tap U.S. petroleum reserves if oil production in Saudi Arabia doesn’t rebound quickly.
