Israeli Strike on Iran Could Mean $6-per-Gallon Gas, Say Analysts (The Hill)

An Israeli military strike against Iranian nuclear enrichment sites could have an equally destructive impact on wallets at the pump. Currently averaging $3.82 per gallon in the U.S., analysts say prices following an attack could increase $1 or $2 more than the record high average of $4.11 seen in 2008. An attack by Israel to disrupt Iran’s nuclear program could raise barrel prices $5 or $10. Though a low probability, sabotage against oil facilities in response to an Israeli attack could increase prices $10–$20 per barrel. An Iranian missile attack on oil tankers in the Strait of Hormuz would be the most aggressive response to an Israeli attack, but could send oil prices up by 50%.