Could war in Israel raise gas prices?

Will gas prices increase due to war on Israel

Relief for drivers is now in jeopardy following a surprise weekend attack on Israel by Hamas.

AUSTIN, Texas - Relief for drivers is now in jeopardy following a surprise weekend attack on Israel by Hamas.

Experts say the newly-declared war in Israel could impact oil and gas prices at the American pumps, much as Russia’s invasion of Ukraine caused oil and gas prices to surge last year.

"There is not really much I can do about it. If it has anything to do with Israel and Palestine, I think Israel just kind of has to do what they have to do after what happened," says Mitch Cocian, Austin resident.

The price of West Texas Intermediate Crude Oil per barrel went up to $85.93 on Tuesday after the attacks on Israel.

Man's Israeli family held hostage by Hamas

A Central Texas resident found out his missing family members were among the 150+ Israeli citizens being held hostage by Hamas through a TikTok video.

"I think it needs to go back down somehow. I mean I don't know what can be done, but I mean I feel for people who are struggling to pay for gas, because I feel like everyone needs it," said Cocian.

The lowest price for regular gas in Austin is around $2.89. Middle grade is about $3.14, while premium is close to $3.39, according to data collected on Gas Buddy.

"I might go down to the medium, but at the end of the day, I mean it is just gas you know. I might try to drive less just hoping it will go down soon," said Cocian.

"I think people deserve a little better than that, a lot better actually than living in fear of being able to just get around," says Taylor Scott, Austin resident.

Texans show support for Israel at vigil

Central Texans are showing their support for Israel. Thousands of people gathered for a vigil in Northwest Austin Monday night, where Gov. Greg Abbott and others denounced the attacks by Hamas.

Taylor Scott says this is the reason he is for electric cars because the unpredictable cost of gas can heavily impact the budget of drivers.

"If you remain completely dependent on it as your main fuel source, absolutely," said Scott.

According to Gas Buddy, in the fall, demand for gas is lower. Last week, 50 states saw a decrease in prices. The conflict is causing oil prices to increase, but gas prices are still lower compared to where prices were a week ago across the country.

"I think it is going to go up just because I think things are so bad over there, really bad. I think it is going to get worse," said Cocian.