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Gas prices not expected to rise following attacks on oil tankers

Posted at 6:10 PM, Jun 13, 2019
and last updated 2019-06-13 18:10:33-04

LANSING, Mich. — The news of overnight attacks on two oil tankers Wednesday night has many worried that this will cause a rise in gas prices.

Petroleum analyst Patrick Dehaan, with Gas, said that won't be the case.

Although the attacks did cause an increase in oil prices, gas prices are not likely to rise.

"Oil prices are up about a dollar a barrel, but they had plummeted yesterday.. so any small increase today is more than offset by the massive drop in prices we've seen that has delivered prices in Lansing to their lowest level in months," Dehaan said.

Dehaan said two oil tankers is not much in the grand scheme of things.

"Two oil tankers, when there are hundreds out there is really a drop in the bucket. It's more attention grabbing than anything else. This is not going to affect supply in the slightest," Dehaan said.

However, Dehaan said that if these attacks become more frequent, or create large amounts of damage, then we could potentially see an increase in future gas prices.

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