Drivers best start bracing for another surge in gas prices amid the conflict between Russia and Ukraine and years of under-investment by the oil industry, warns one veteran energy strategist.
“My guess is that you are going to see $5 a gallon at any triple-digit [oil prices] … as soon as you get to $100. And you might get to $6.50 or $7. Forget about $150 a gallon, I don’t know where we will be by then,” Energy Word founder Dan Dicker said on Yahoo Finance Live.
Dicker said oil prices could shoot higher to $150 a barrel, or in line to the “super spike” highs from 2007.
Oil prices have been red-hot lately as geopolitical tensions rise between Russia and the rest of the world.
WTI crude oil has climbed 13% in the past month to $94 a barrel. Russia produces 10 million barrels of oil a day, the equivalent of 10% of global demand. Any loss of that oil due to geopolitical issues could cause a tightly supplied market to become tighter, pushing prices for the hydrocarbon up.
Ferk Jer Berden!
Right after we acquired energy independence for the first time, Pedo-Slow-Joe throws it away his fors days in office – while killing 10s of thousands of jobs in the energy sector!
All after cheating to win the election!
Why is it…. the mainstream media always says its someone else’s fault beside O’Biden???
they did the same with Obama.
WE NEED PRESIDENT TRUMP BACK
trump would have stopped Putin from invading, right.
YES , he would !!!! NOT Biden though , just look at this FAKE President !!!!
Repeat after me Keystone pipeline Keystone pipeline reopen it now Keystone pipeline
Politicians are FIRED already with today’s PRICE !!!!!
You can Bet Vigilanties will start knocking off Politicians one of these days !!! Common Sense !!
Keep choking off Americans & see how long it takes !!!
From energy independence and exporting energy, to begging for oil from countries that hate us in just over a year. Great job Brandon and all the USA hating dems and liberals.
It’s on purpose…pull back on our oil production and push this phony war on a country that no one really cares about…gas spikes to the point people seriously consider the alternatives meaning electric vehicles.
Biden WANTS GAS TO BE HIGH to force you off fuel vehicles onto Battery vehicles !!! Thus he
Stopped the Pipelines & Fracking & the rest !!!
The High Fuel Price is on HIM alone , not anything to do with Ukraine or anything else !!!!
NOT ME!!!
Well, You on DelMarVa won’t be DRIVING very much anymore !!!!!! We too Poor here for that Price !!!!
That’s WHY the Bike Lanes were put in a few years ago !!!!! They knew what was coming !!!!