Local Gasoline Prices Could Suffer From Attack On Saudi Refinery
NEW YORK (CBSNewYork) - Get ready for prices at the pump to start going up again.
Those drone strikes on Saudi oil field will have an impact on prices here at home.
CBS2's Nick Caloway went to find out just how high the prices will go.
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Nationwide, prices at the pump have been trending down. But that could change.
"We though gasoline prices would keep going down, and then we had this little situation in Saudi Arabia," said Robert Sinclair of AAA Northeast.
Sinclair says that could mean a price increase of anywhere from five cents to 25 cents per gallon. Enough to be a nuisance, but not the end of the world.
"Yeah, if you have a big, heavy, thirsty SUV or pickup truck, you'll see a greater impact," Sinclair said.
"I can live with it as long as it stays below $3," said driver Alexander Albanese.
Some drivers were topping off their tanks before the prices spike.
"Before it goes up, I'm filling up," Albanese said.
"Prices keep going up anyway, but any excuse," said driver Suzanne Gibbons.
Long-term, those prices are expected to drop back down to normal. What we don't know is how long it'll take. It could be weeks, or maybe even months, Caloway reported.
"Really depends on how long those facilities in Saudi Arabia are brought back online," Sinclair said.
Sinclair says now that the busy summer driving season is over, demand is down and there's plenty of crude oil. So however high the prices go, the price increase could end up being very short-lived.