DAYTON, Ohio (WDTN) — Saudi Arabia has restored half of the oil production that was lost in the oil field attack Saturday, but drivers are feeling the impact at the pump.
Gas prices skyrocketed after the airstrikes on the oil field in the Middle East. Prices at the pump have risen all over the Miami Valley.
“I would say we were very fortunate that when this happened that we were at a relatively low gas price even with the recent tax increase,” says Bob Wilkens, the Associate Dean for Research & Innovation for the School of Engineering at the University of Dayton. “Remember, we’ve seen gas prices much higher than this in the past, and at present, we’re not going anywhere near that.”
Wilkens says there is still a lot of uncertainty and parts in flux. However, he believes if we haven’t hit a high yet, we’re near it and expects prices will stabilize in the next month.
“Things will become a little more clear as to how long some of the repairs will take and how we can recover in terms of any supply disruptions,” says Wilkens.
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