DAYTON, Ohio (WDTN) – An attack on a major global supplier of oil is having a major impact on gas prices in America and locally in the Miami Valley.
This fall, experts say gas prices will go up as opposed to going down, as they historically do during the fall season. This is a result of oil prices increasing to more than $60 a barrel following the attacks on oil fields in Saudi Arabia. Experts say its the biggest spike in a decade.
The largest oil processing facility in the world was badly damaged in the air strike over the weekend, disrupting five percent of the daily global oil supply and it’s creating a ripple effect.
The head of petroleum analysis at GasBuddy estimates a hike from 10 cents to 25 cents per gallon over the next few weeks.
According to AAA, the average price for a gallon of gas nationwide is $2.56, down nearly eight cents from a month ago.