Watching gas prices amid tensions with Iran - KAKE

WICHITA, Kan. (KAKE) -

At the gas pumps, drivers in Wichita watched the prices closely.

“I’m deeply concerned about what’s going on right now,” said Anu Shayia.

And while they haven’t jumped yet, crude oil did on Friday. Prices were at the highest level since April by the end of trading.

Brent Crude rose three percent after the killing of Iranian General Qassem Soleimani in Iraq.  About a quarter of the world’s oil flows through the area just off the coast of Iran.

Since the U.S. launched the air strike, killing Soleimani, some have feared what Iran’s retaliation might be, especially concerning it’s oil supply.

But others said the impact at the pump would be small, only a few cents thanks to other sources of oil.

Those same drivers admit they’ve been watching the news out of the Middle East and opinions were mixed.

“It does make me nervous,” Shahiya said. “I am concerned about what’s going to happen to the U.S.”

“It hasn’t seemed to hit me much yet,” Boelhke said. “I know they’re taking better care of it than Benghazi. I guess you gotta do what you gotta do.”

If oil jumps more than $5 a barrel, gasoline could follow with a much more dramatic jump. But there’s no immediate prediction of that happening.

The average price for gas nationally was up three cents from last week.

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January 04, 2020 at 10:13AM
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Watching gas prices amid tensions with Iran - KAKE
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