Tensions in the Middle East could affect Kamloops gas prices – but it’s too soon to predict
KAMLOOPS — Gas prices have been fluctuating for a while now, impacting many residents across B.C. Tensions rising in the Middle East could throw another curveball to drivers in the province.
It has been seven days since Hamas attacked Israel. There are concerns that the conflict will impact the world price of oil. According to a petroleum expert from Calgary, it is not yet affecting gas prices, but anything can change under the current circumstances.
“If it spills over to the Saudi Arabia, over to other parts of Middle East, then it can have an impact on supply. A lot of supply that goes to North America also goes through the Suez Canal. But I feel that the US and the rest of the world will prevent from that happening because it’s a negative impact on the economy,” explained Vijay Muralidharan, Director with R Cube Economic Consulting.