If Israel bombs Iran, how high will out gasoline prices rise?
If Iran is attacked, they will most likely respond by laying mines in the Strait of Hormuz. This will cut off oil from Saudi Arabia, Kuwait and Iraq. This represents more than a quarter of the world oil supply and will send prices skyrocketing.
Are you ready to pay $8 to $10 for a gallon gas?
- Stephen MLv 78 years agoFavorite Answer
Apparently the idiots on here don't realize we buy oil on the open market, just like every other country does.
Gas prices would certainly reach levels we have never seen before. On the other hand, if you had not realized this sort of thing could happen, and planned accordingly, then whose fault is it?
- YodaLv 48 years ago
Saudi Arabia does, indeed, border the Persian Gulf as well, and does, indeed, have oil shipment ports in the Persian Gulf. NO ship can leave the Persian Gulf without traveling through the Gulf of Hormuz.Source(s): Been to the Persian Gulf and many Middle Eastern countries during my 22+ years in the U.S. navy, plus looking at a map clearly shows Saudi Arabia borders the Persian Gulf as well...
- David LeGareLv 48 years ago
Clearly your an idiot when it comes to oil flow. Saudi Arabian oil isn't affected by the Gulf of Hormuz at ALL. It does have a significant impact on Iraq and some other gulf states. Saudi's however can increase production to cover most of it if they choose to. I am amazed at the ignorance of folks posing questions about basic geography.
- Redjr01Lv 68 years ago
Don't believe that rubbish. We can always get more oil from Canada. It will never get that high. Also, Iran will never cut their own throats just so we can pay a little more money at the pump. They may be radical but they are not stupid. They're only posturing. Iran depends on that oil to get to market. Do you really believe they will commit to eating sand just so they can get blown to bits by the Israelis. Iran can't win and they know it. That's why they relented and agreed to allow investigators to come and investigate their nuclear program.
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- Anonymous8 years ago
WE DONT NEED FOREIGN OIL, we can make gas out of COAL, there is more coal n some states alone then there is oil in Saudi Arabia
- 8 years ago
As little or much as the fascist progressives in America subsidize it for depending on their surplus reserves at the time. We get no oil from Iran, but a blip in their output could affect world supply slightly for a month or so. You know OPEC plays the surplus-demand game don't you? If not, take a college economics course, it will expand your mind to these economic realities of adjusted price control. If they decide to punish or gouge you, $5+, if they want to keep the wheels of progress greased... not much more than we are paying now.
- 8 years ago
You bet I don't drive all over the place cruising for no reason at all
- 8 years ago
$15.00 for a while, then the collapsing economy will drop it to $7.00 per gallon.Source(s): Just a guess.