President Barack Obama said that tension in the Middle East adds about $20 to $30 to a barrel of oil and is helping drive up the price of gasoline.
President Barack Obama said that tension in the
Middle
East
adds about $20 to $30 to a barrel of oil and is helping drive up the
price of gasoline.
"Right now the key thing that is driving higher gas prices is actually the
world's oil markets and uncertainty about what's going on in Iran and the
Middle East, and that's adding a $20 or $30 premium to oil prices," the
president said in an interview with auto club AAA.
The president conducted the interview Thursday, while he was visiting an oil
pipeline yard in the Cushing,
Okla.
,
area. The president has been touting his plan for
U.S.
energy production in recent weeks as gasoline prices have risen 8% over the
last month.
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