Expect Higher Prices at the Pump

Possible Syrian conflict expected to drive up gasoline prices

American consumers could face higher gas prices as the possibility of U.S. strikes in Syria continue to increase.

According to MarketWatch, the average national price for a gallon of regular gasoline stood at $3.54 on Tuesday. Prices are already on track to be the fourth most expensive on record for the Labor Day holiday on Monday. The most expensive Labor Day average was $3.83 a gallon in 2012.

U.S. Secretary of State John Kerry said Monday that Washington was certain the Syrian government had used chemical weapons against civilians and added that “there must be accountability” for its actions. Syria’s government has denied the use of chemical weapons against its own citizens. Russia, China and Iran have warned against military intervention in Syria.

Although Syria itself is a minor oil producer, one of the concerns is that an escalation of the conflict could hamper supply across the Middle East.

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