Turmoil In Libya Causes Gas Prices To Increase
BALTIMORE (WJZ) -- The effects of the unrest in Libya can be seen in Maryland as gas prices continue to rise.
Andrea Fujii explains it's only expected to get worse.
From turmoil in Tripoli to pain at the pump. Libya is a major oil supplier and the violence there is causing market speculation, forcing the cost of crude up to $93 a barrel.
"The unrest in the Middle East, particularly in oil rich Libya, is wreaking havoc and, as a result, gas prices have reached a 28-month high," said Christine Delise, AAA Mid-Atlantic.
AAA estimates the national average is $3.17 for a gallon. Baltimore is less at $3.10.
Some analysts predict it could get to $4 or more by Memorial Day.
"Any unrest in Libya could have a ripple effect on oil production throughout the country over concerns of supply," said Delise.
Though drivers are dishing out more, they say alternatives rather than anger are the only solutions.
"I'm going to try to drive less, take maybe the light rail more," said Chris Phillips, driver.
"If we have to pay a few pennies more a gallon, I guess that's a small price for making countries better," said Dennis Myers, driver.
Analysts are also concerned about unrest continuing to spread to Saudi Arabia, which would hike gas prices to record highs.
