Gas prices soar after Iran cuts supply
It doesn’t look like the pain at the gas pump will be easing anytime soon since prices have soared in the past month due to tension in the Middle East.
Iran cut off oil to European countries, as a pre-emptive strike for the European Union's tough new sanctions over its nuclear program.
As a result, over the past month, gas prices have soared 18 cents a gallon, and it might get even worse.
Experts predict they could reach $5 a gallon by Memorial Day.
“It's already hurting the economy and it's going to continue as long as they go up."
According to AAA, the national average for a gallon of gas is now $3.56, five cents higher than a week ago, nearly 50 cents higher than it was this time last year.
Analyst say it may only get worse as pump prices could be pushing $4 by the end of April.
The soaring costs have many people like Erin Fulleborn cutting back.
“We used to go visit my parents on the weekends and that's about 130 miles and we cant afford to do it very much anymore,” she said.
Searching for savings, drivers are flocking to the Sam’s Club in Waldorf - known to have some of the cheapest oil in the region.
“And this is considered cheap right now, because every place else is a lot more,” Fulleborn said.
"I come all the way from Upper Marlboro, Maryland...I don't mind the ride," said Carlos Snowden, driver.
RecommendedRecent Facebook Activity
Only On 7
-
Leon Harris and Alison Starling weeknights on ABC7
For all the breaking stories happening in your neighborhood and developing stories happening around the world, join Leon Harris and Alison Starling weeknights on ABC7 News at 5 and 11.
TBD Blogs What you need to read
-
@TBD Arts
Oscar parties and other stuff to do this weekend
-
@TBD On Foot
Arlington is developing a six-year plan for Capital Bikeshare
Best of TBD In case you missed it
-
13 ways D.C. is better than NYC
Hey, no city's perfect!
Photo Galleries Pictures from around the region
-
LivingSocial's new D.C. building, thriving at 918 F St.
-
Fast food gone wild: The most talked about, gutbusting fast foods (Photos)

11 Comments
MORE COMMENTSPost a Comment