Drone attacks over the weekend and overseas will mean you’ll be paying more at the gas pump.
Saudi Arabia experienced drone attacks on some of its key oil production facilities. The attack caused large fires at the oil facilities and reduced the country’s oil production by just under six million barrels a day. This, in turn, sent 5% of the world’s oil production to a screeching halt.
So what will that mean at the gas pump?
Crude oil prices on Monday ended about 14% up, and experts say to expect volatility for the foreseeable future. What that means at the pump is probably as much as a 25-cent-per-gallon increase later this week.