An ongoing war in Syria has suddenly ended with the overturning of the long-standing Syrian government, creating national security and humanitarian concerns but also threatening global oil markets.
“Russian oil and gas companies have operated in Syria for years adding to the world’s supply. The future of those operations is now in jeopardy,” Daniel Turner, executive director of the energy workers advocacy group, Power the Future, told The Center Square. “This could be a strategic blow for Putin, but these are global commodities, and we are not immune from the price fluctuations.”
So far, gas prices have remained relatively stable, however instability in the Middle East can cause price spikes. However, that instability may already be baked in given the ongoing Israel-Hamas war and Iran’s involvement via proxy terrorist groups.
The average price for a gallon of regular gas is about $3.00, according to AAA, much lower than the spike to $5 per gallon earlier in President Joe Biden’s term. AAA reported last week taht gas prices hit the lowest point in 3 years.
“The national average is tantalizingly close to falling below $3 a gallon, and it could happen in a few days,” Andrew Gross, AAA spokesperson, said in a statement. “But 32 states already have an average below or well below $3. Hockley County, Texas, appears to have the lowest county average, at $2.30.”
Turner argued an expansion of American energy production would help insulate Americans’ from the volatility overseas.
“This furthers the need for America’s return to Energy dominance, and part of President Trump‘s election mandate,” Turner said. “Americans deserve reliable, affordable energy, regardless of what’s happening in a chaotic world. And when we reopen our natural gas supply lines, places like Western Pennsylvania can provide our allies with the energy. They need further weakening Russia’s economy and military. Better days are on the horizon.”
Gas prices vary widely by state.
From AAA:
The nation’s top 10 most expensive gasoline markets are Hawaii ($4.56), California ($4.39), Washington ($3.99), Nevada ($3.66), Oregon ($3.53), Alaska ($3.46), Washington, DC ($3.22), Pennsylvania ($3.21), Illinois ($3.20), and Arizona ($3.18).
The nation’s 10 least expensive gasoline markets are Oklahoma ($2.52), Mississippi ($2.62), Texas ($2.63), Arkansas ($2.63), Kansas ($2.67), Missouri ($2.69), Tennessee ($2.70), Iowa ($2.70), Louisiana ($2.73), and Kentucky ($2.74).
