'Prices Could Go Up 15-25 Cents': Trump's Decision On Iran Nuclear Deal Could Increase Gas Prices
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PITTSBURGH (KDKA) -- Will President Donald Trump keep the U.S. in the Iran nuclear deal?
In a tweet Monday, he said he'll announce his decision Tuesday.
I will be announcing my decision on the Iran Deal tomorrow from the White House at 2:00pm.
— Donald J. Trump (@realDonaldTrump) May 7, 2018
And it turns out, some say his decision could affect gas prices.
If you've already noticed gas prices are higher than a year ago, you're not imagining it.
"A lot higher, and it's increasing in increments," said Troy Jackson, from Blawnox. "You go around to every gas station every few days, and it's getting higher and higher."
The average price of gas in our area, according to GasBuddy is $3.07 a gallon.
GasBuddy says that's 37 cents higher than last year at this time.
And some experts believe what President Trump announces could drive prices even higher.
If the deal is over, sanctions against Iran that had been waived could be re-instituted.
"If President Trump signals some harsh word for Iran, I think that could send oil prices up, and on the gas side, prices could go up 15 to 25 cents," said Patrick DeHaan, from GasBuddy.
Not what drivers in Pittsburgh want to hear.
"That's a huge difference, after it's already gone up about 40 cents," said Diamond Steele, from Munhall.
"There's always a bicycle," joked Troy Jackson.
However, DeHaan says if we stay in the deal, the opposite could happen.
"If President Trump does not get rid of the Iran deal, it could actually make gas prices fall slightly," he said.
He says a lot will depend on the tone of the announcement as well.
