AAA Arizona: Attacks On Saudi Arabia Could Increase Gas Prices
Saturday’s attacks on Saudi Arabia’s oil facilities increased future prices for Brent crude by 15% Monday.
Aldo Vasquez with AAA Arizona said the effect will be seen at the pump.
“It’s too early to know the full impact on U.S. pump prices from the attack. Americans can expect local pump prices to start to increase this week. Now, that jump could be as much as a quarter over the course of this next month," Vasquez said.
Vasquez said the length of time it takes Saudi Arabia to return to full production will be a determining factor in how long consumers will pay more for gas.
But President Trump believes the attack won’t have an effect, saying “we have tremendous amounts of oil in our country.”