Escalating violence in Iraq could drive gas prices up

MGN Online
Friday, June 13, 2014 - 9:31am

The escalating conflict in Iraq could drive gas prices higher. Militant Isla mists have captured several major Iraqi cities and are trying to push into Baghdad. As the violence increased Thursday, oil futures climbed to 106-dollars 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 weeks. The national average for gas is currently $3.65 a gallon.

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