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Iranian Sanctions Will Cost You As Well

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The renewed U.S. sanctions against Iran will make life tougher on Iranians and more expensive for you. The Oklahoma AAA Club’s Mark Madeja says the sanctions will push up oil prices which will in-turn push up gasoline prices.

The price of oil is already over $71 a barrel and some Tulsa area service stations are charging $2.65 for gasoline. Madeja says those prices could go higher.  He expects $3 a gallon gasoline prices will be possible during the summer months.

On the plus side, the higher oil prices should mean a windfall for the always cash strapped state of Oklahoma which  depends heavily on energy related taxes.