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.
Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!
— Donald J. Trump (@realDonaldTrump) September 15, 2019
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.