USA Today – In an article posted on October 8, 2023, gas prices have fallen in recent weeks. This happens every fall as demand for gas decreases. However, if the war between Isreal and Hamas escalates to other countries like Iran, oil prices could increase. The possibility exits that if a country like Iran (who is a huge oil producer) gets involved in the conflict, they could withhold oil to the United States.
With OPEC+ countries like Iran and Saudi Arabia in control of their supply of oil, they could increase their prices or place an embargo on the United States which would have an affect oil and gas prices here.
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