Middle East Unrest Causing Gas Prices To Rise

BALTIMORE (WJZ)—The crisis in Libya is causing oil prices to soar. And in turn, gas prices are skyrocketing.

Jessica Kartalija with more on the rapidly rising prices.

The price of a barrel of oil has spiked 18 percent in the last 10 days, and that’s certainly trickling down to Maryland drivers.

Michael Pyle watches his cash go from his wallet to his fuel tank.

It cost him $55 to fill his tank. He said he once paid just $20.   

In Maryland, the price per gallon rose 5 cents overnight as crude oil prices surge amid unrest in the Middle East.

“Concerns about Egypt and the Suez Canal. A lot of oil is transported through the Suez Canal that started it.  That and the concern that it would spread to other countries that really are oil producing countries,” said Drew Cobbs, Maryland Petroleum Council.

Cobbs says turmoil in Libya could raise prices even more.

“We get roughly 8 or 9 percent of our imports from Libya, so it’s a significant contributor to our cost in the United States,” Cobbs said.

This time last year, Americans paid an average of $2.69 a gallon. Last month, the price was $3.05. With the latest surge, the national average is now $3.28 a gallon.

“It’s getting ridiculous. Everybody has got to stop driving,” said Pyle.

Regarding concerns that gas prices could reach $5 a gallon in Maryland, AAA says that is not very probable.

More from Jessica Kartalija
  • WhySoSerious

    Everytime something happens, they say it’s affecting the price of oil and the next thing you know is gas prices goes up.. This shlt is ridiculous.. America should not be going through this when we have all this power!! Why is the Pres. not talking about this.. Md. is too busy voting for Gays to get married instead of addressing this powerful issue!!!!!!!!!!

  • Donald Holloway

    Here I am stuct in he middle with you. I say stop, think, it’s not you do for your country. It’s what the country is doing for you. Don’t blame other countries, your tax money hard is at work doing nothing. Gov’t waste. Speed train,
    Transportation, bank for who you voted in making money on you..

  • Donald Holloway

    Another bail out for the state, meaning more tax dollars wasted.

  • Jim Koblinsky

    Drew Cobbs states in his interview that Lybia accounts for about 8 to 9 percent of our oil imports. According to the February 22nd 2011 Maryland Business section of The Baltimore Sun Lybia accounts for 0.7 percent of our oil imports. It appears that someone does not have the correct figures.

  • ratm33

    its all B S it is just a reason to raise prices. Not a cause. The U S better step up the energy game or it will be the end of us. ‘2tween gas prices and my energy bill the only more expeensive bill is my house payment. All they do is lip somebody money under the table to overlook it. Look at bge, our government told them it was ok to add another 20 ‘ucks onto our bill every month to keep up on their lines. isnt that what we allready pay a bill for. All of it is B S all of it. They will not stop until we stand up like these other countries are doing, and say this is enough.

  • Mike

    Rising energy costs in fuel for our cars,gas & electric for our homes is bleeding U.S.citizens dry. Death by a thousand cuts. Ethonal is not the answer neither is electric cars at this time in our quest for recovery. We need to demand the exploration and recovery of the oil,gas & coal we have in the U.S.A.. If this is not soon relized by the powers to be the crisis here in the U.S. will become much worse and could result in the fall of our great nation. We are not to big to fail look aruond the world to places like the former soviet union to see what happens to nations when they collapse.Demand the change that is needed. God Bless America and her citizens. It’s time to take care of our own.

  • Jessica W
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