People are delighted by recent gas prices in Pueblo. The price per gallon fell below $3 for the first time on December 17th 2011 and now gas is as low as $2.85 in some places, according to automotive.com.
Pueblo West High student Kitrick Ortiz had this to say, “Oh yeah, everything’s perfect I can actually spend the money I earn on something of real value.”
So if everything is perfect, gas is lower than it has been in recent months and people can actually get from point A to point B without pulling their hair out at the pump why is there cause for concern?
To destroy Iran’s economy and ultimately stop its Nuclear program the United States and the European Union have placed economic sanctions on Iran oil. According to the Telegraph, this could have a serious impact on the price of oil throughout the entire world.
The United States does not import very much of Iran’s oil, but by placing sanctions on the oil it becomes much more difficult for other nations to purchase it. This increases the demand for oil worldwide, which results in a dramatic increase on the price of oil.
It is estimated that the price per barrel will rise to over $140 if the restrictions on oil continue. As of January 24th, the price of oil has already increased to $110.85.
It is also known that the price of gas has increased as well to $2.99 per gallon. So while the price of gas is still much cheaper compared to previous months , there is a likelihood it will not last.
People must fill up the tank while they can, or pay the consequence of the sanctions the United States has put on Iran oil.


