Our way of life depends on cheap oil, and so if a major regional war in the Middle East causes the price of oil to go skyrocketing that is going to deeply affect all of us.
On Monday, the average price of a gallon of gasoline in the United States was just $3.63.
Even though the average price of a gallon of gasoline has risen more than 20 cents in a month, I would still consider it to be at a very low level, especially compared to what is eventually coming.
If Israel and Iran start lobbing thousands of missiles at one another, we could easily see the price of oil surpass $150 a barrel, and it is likely that the average price of gasoline in the U.S. would shoot past $7.00 a gallon.
When that occurs, the price of oil will go nuts, and people all over the U.S. will blame Israel for the high price of gasoline.
The price of oil has an enormous impact on literally every sector of our entire economy.
If an apocalyptic war in the Middle East were to cause the price of oil to double, it would send us into a horrific economic tailspin.
https://theeconomiccollapseblog.com/this-is-why-the-price-of-gasoline-could-soon-double/
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