Drivers in Birmingham concerned about prices at the pump after Israel attacks Iran
BIRMINGHAM, Ala. (WIAT) — The price of crude oil rose on Friday in the wake of Israel's attack on Iranian nuclear and military targets.
Concerns about escalating violence could impact the flow of crude globally. We talked with drivers in Birmingham to see how concerned they are about paying more at the pump. Gasoline at a Chevron gas station in Avondale was $2.89 for regular gas on Friday afternoon.
Michael Hinkle, who drives a 2019 Chevrolet Equinox, said he spends a lot of time behind the wheel playing the role of 'Uber dad':
'Taking my teenage daughter wherever she may want to go, and then my son, he's in sports, so you know, we got to get back and forth to his practice and his games,' Hinkle explained.
If gas prices increase significantly, Hinkle said that may have to change.
'We'll probably have to start carpooling games and stuff like that, and I'll tell my daughter she'll have to cut back on going out with friends and everything, just hanging out at the house.'
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Art Carden, who teaches economics at Samford University, explained how this might play out in terms of paying more at the pump.
'If we have a sustained conflict, then maybe we end up with slightly higher prices over the longer term,' Carden said. 'You might want to think about gas mileage the next time you buy a car. But this is anything but catastrophic.'
Patrick De Haan, Head of Petroleum Analysis for GasBuddy, said you will be paying more at the pump.
'Diesel prices could go up 10 to 30 cents a gallon over the next week or two starting here and now,' he said.
He said gas prices could jump 10 to 15 cents a gallon over the next week or so starting as early as this weekend. De Haan said these are just estimates that could change. He added that the good news at the end of the day is that gas prices are still about 31 cents lower than last year. He noted that if escalations continue and Iran shuts down the vital Strait of Hormuz, which sees a significant amount of crude oil flowing through it every day, the situation could change.
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