What The Iran Conflict May Do To Prices at the Pump
(FinancialHealth.net) – Over the last couple of weeks, the conflict with Iran has left many Americans wondering if they’re going to be paying more at the gas pump as a result. The good news is, it looks like we are safe for the time being.
Last week, when news broke that the United States had killed top Iranian general Qasem Soleimani, the oil market saw prices rise about 4%. Then, after the Iran missile strike to Iraqi bases housing American troops, the price of oil spiked again to $100 dollar a barrel.
President Trump, however, seemed to calm the markets after he tweeted that things were fine.
All is well! Missiles launched from Iran at two military bases located in Iraq. Assessment of casualties & damages taking place now. So far, so good! We have the most powerful and well equipped military anywhere in the world, by far! I will be making a statement tomorrow morning.
— Donald J. Trump (@realDonaldTrump) January 8, 2020
Experts, like Andrew Lipow, president of Lipow Oil Associates, said that drivers should not expect to see a rise in prices at the pump in the immediate future. So, while it doesn’t mean you won’t feel it at some point, right now it looks as if oil prices are holding steady.
~Here’s to Your Financial Health!
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