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Gas Prices Could Soar Due To Escalating Conflict In Iraq

Story By: Larry Stine

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  Original Published: 6/16/2014

The escalating conflict in Iraq could drive gas prices higher. Militant Islamists have captured several major Iraqi cities and are trying to push into Baghdad. As the violence increased Thursday, oil futures climbed to $106 a barrel. That's a 2-percent increase and the highest level since last September. If oil prices keep heading north, analysts predict prices at the pumps could jump more than 20-cents in the next couple of weeks. The national average for gas is currently $3.65 a gallon.

   
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