GasBuddy Discusses Iran-Israel Conflict on Indiana

STATE WIDE–Gas in Indiana likely will not be greatly affected by the conflict between Israel and Iran, said Gasbuddy’s head of Petroleum Analysis, Patrick DeHaan.

“It probably won’t lead to a lot of the issues people are thinking of,” he said. “It could modestly cause prices to cycle again. We do see that every week or so.”

He said the last time it happened some prices in the state got as high as the upper $3.20s.

“For now, that might be as bad as it gets,” he said.

DeHaan said oil prices jumped last week about eight percent, which caused a lot of speculation about gas prices shooting up. But, oil prices are already coming down, having fallen about two and a half percent by Monday afternoon.

“I think with oil prices now declining, it’s a little too early to sound the all clear, but I’d be hopeful that prices at worst, would get up to the mid threes before we start to see some relief ahead of July 4,” he said.

DeHaan also said that average prices below $3 per gallon are still possible between price cycles.