Rise in Gas Prices Partly Blamed On Unrest in Egypt

July 16, 2013

The average cost of gas in the US on Tuesday is $3.64, a 15-cent increase since last weekend, and a 20-cent increase since the same time last year.

Officials say the unrest in Egypt is creating instability in the oil market. Additionally, they say the summer season is also to blame.

Analysts are already making predictions about this will affect the economy.

"Economists are telling me in two to three months, that's when the sticker shock will really hit consumers," says ABC News Analyst Betty Liu. "Come September, October, right when the critical holiday shopping season is beginning, that's when consumers will start to pull back on their spending."

Experts warn that the prices at the pump could continue to go up.

The comments sections of Newsplex.com are designed for thoughtful, intelligent conversation and debate. We want to hear from our viewers, but we ask that you follow our rules for commenting. E-mail is required to comment on a story, but it will not be displayed with your comment. For complete rules, CLICK HERE. The Newsplex reserves the right to not post or to remove any comment.
powered by Disqus
The Charlottesville Newsplex 999 2nd Street S.E. Charlottesville, VA 22902 434.242.1919 – Main 434.220.7522 - Newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 215720341 - newsplex.com/a?a=215720341
Gray Television, Inc.