Oil Prices Surge Following Attack on Israel

(Undated) – Gas prices continue to slip lower, for now. However, GasBuddy Head of Petroleum Analysis, Patrick De Haan, says the recent “dip” in prices is likely to change. De Haan says Iran’s attack on Israel has at least temporarily caused oil prices to surge to the highest level in months, which could cause the declines to cease for now and could lead to a rise in gas prices for many Americans. In addition to the escalation in the Middle East, hurricane season remains active, with Hurricane Milton now heading toward a likely landfall in Florida. He says for now, motorists in most areas can expect to see more increases in gas prices primarily due to tensions in the Middle East, but he remains hopeful that a $2.99 national average is still possible this fall. The current national average is $3.18 a gallon.