ALBANY, N.Y. (NEWS10) — The price of oil spiked Monday following what’s believed to have been drone strikes on a Saudi oil facility that disrupted more than five percent of the world’s daily crude supplies.
So, what does that mean for drivers?
NEWS10 ABC reporter Anya Tucker spoke with Ralph Bombardiere, the Executive Director for the New York State Association of Service Stations and Repair Shops. He said the situation will be determined by how the government handles it and how consumers perceive it.
“If it looks like it’s a disruption in supply people want to tap off their car or their tank. They would rather have gas than eat,” said Bombardiere.
He says when prices go up for gas station owners, they must pass the added cost on to their customers. He says contracts keep station owners from going to another sources.
“I know you represent gas station owners, but what kind of advice can you give motorists?” Anya asked.
“Don’t panic,” he responded. “No one has the answers right now.”
Bombardiere added it is best to monitor the situation as the market hopefully balances itself out soon.