SIMONE DEL ROSARIO: COULD GAS PRICES BE ANY HIGHER? WE HAVEN’T SEEN THESE PRICES AT THE PUMP SINCE 2014…BUT EXPERTS SAY IT COULD GET EVEN WORSE.
THE NATIONAL AVERAGE TODAY IS 3.47 A GALLON, EXACTLY ONE DOLLAR HIGHER THAN ONE YEAR AGO.
THAT MAKES FOR EASY MATH. HAVE A 15-GALLON TANK? YOU’RE SPENDING 15 DOLLARS MORE EVERY TIME YOU FILL IT UP.
IT’S TEMPTING – AND COMMON – TO BLAME POLITICIANS IN POWER FOR PUMP PAIN.
PRESIDENT BUSH FACED THAT SAME PRESSURE WHEN PRICES SURGED PAST FOUR DOLLARS IN ‘08.
BUT IN MANY CASES, IT HAS A LOT MORE TO DO WITH WHAT’S HAPPENING OVERSEAS.
IN THIS CASE – TENSIONS BETWEEN RUSSIA AND UKRAINE ARE PART OF WHAT’S DRIVING GAS PRICES SO HIGH.
A BARREL OF CRUDE IS CURRENTLY TRADING OVER 90 DOLLARS OVER CONCERNS RUSSIA COULD WITHHOLD SUPPLY IN THE FACE OF SANCTIONS.
AND IF RUSSIA MOVES TO INVADE…
DAVID ROCHE: i think at that point in time you most certainly would see oil prices at $120.
SIMONE DEL ROSARIO: ON THE FLIP SIDE – GERMAN ASSET MANAGER D-W-S PREDICTS IF TENSIONS THERE EASE – OIL COULD DROP TO 70 DOLLARS A BARREL, A 22% DECLINE.
I’M SIMONE DEL ROSARIO – AND IT’S JUST BUSINESS.