– Written by Big A
The price of crude-oil is rising rapidly, following Iran’s recent decision to halt its oil exports to Britain and France; in retaliation for the recent economic sanctions put in place by the European Union and The U.S. The affect of this is now slowly being felt by American’s at the gas pump. Since January of 2012 the price of gas has risen by around 9%, and isn’t forecasted to decrease anytime soon; actually it’s predicted that gas prices will continue to climb as long as this dispute continues.
Analysts predict a national average of $3.95 per gallon by Memorial Day. With the increase in gas, prices are expected to reach up to $5 a gallon in some parts of the U.S. by the summer time. So the next time you visit your favorite gas station to fill up your gas tank, don’t be shocked at the cost.