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Michael B asked in News & EventsCurrent Events · 1 decade ago

Why is the rise in gas prices being blamed on the middle east conflict?

Two non oil producing countries are involved in the conflict. Israel has nothing to do with fuel production and Palestine has no fuel either.

4 Answers

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  • kadel
    Lv 7
    1 decade ago
    Favorite Answer

    All of Iran's oil goes to France. It should not affect the US that much. A few months ago the OPEC members decided to cut production to force up oil prices. That is part of it. The other part is greedy speculators trying to make money even though neither Israel nor Gaza export oil.

  • Anonymous
    1 decade ago

    Oil buyers always get nervous when a shooting conflict breaks out in the Mideast. Hamas is backed by Iran and it would not be all that surprising to see Israel make some sort of preemptive strike on them (not too likely though) and then we'd see some big time price increases.

  • Some Middle Eastern oil producing nations can very easily become embroiled in the conflict as they have in the past.

  • Anonymous
    1 decade ago

    we want to draw attention away from ourselves

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