NORFOLK, Va. (WAVY) – Given all the recent unrest in Syria, many are wondering if this could cause gas prices to rise.
However, an expert from Old Dominion University said that even though Syria is in the midst of celebrating the ouster of its president, Bashar Al-Assad, and Israel is launching a wave of airstrikes across the country, we don’t have much to worry about. region.
“This is the most shocking development in the Middle East since Hamas’s invasion of Gaza last year,” said Aaron Carp, ODU associate professor and professor of political science and geography.
As the world watches this developing conflict in the Middle East, Americans are preparing for any ripple effects – especially at the gas pump.
“You would think that the price of oil would go up and down depending on international news, and that is true,” Carp said.
But unless the news is truly catastrophic, we won’t see major change, he said.
Moreover, he said: “Syria is not a major oil exporter, so what we are really talking about are international perceptions.”
It will not affect us as much as the ongoing conflict between Iran and Israel, he said, as Iran is a major oil exporter.
Nationally, the average gas price has fallen by two cents, and in Hampton Roads the price is typically another five to six cents below average.
AAA’s Ryan Adcock has more good news.
“The winter blend gas is also cheaper to produce than the summer gas blend because it does not contain the … additive that keeps it from evaporating during the summer, which is not in the winter blend,” Adcock said.
If there is a problem, says Carp, it is oversupply.
The price of oil has fallen traumatically because too many countries are producing it to raise revenue. As a result, he said, the Organization of the Petroleum Exporting Countries (OPEC) is trying to get its producers to reduce their exports to boost oil production. the price goes up again.
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