Middle East Politics Raise Weekly Gas Prices - KFYRTV.COM - Bismarck, ND - News, Weather, Sports

Middle East Politics Raise Weekly Gas Prices

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If you've filled up your car this past week, you might have noticed a jump in prices at the pump.

North Dakotans experienced a 10 cent jump to $3.69 for a gallon of regular gas. When crude oil prices moved up $3 a barrel, gas prices increased 10 cents. Investors say the recent jump in prices has been minimal in comparison to other increases influenced by political unrest in the Middle East.

"The United States is carrying a little bit more oil reserves courtesy of North Dakota's Bakken Shale oil. We would be the 20th largest producing nation in the world if North Dakota was a country by itself. So, reserves are increased and more fluidly moving around our country side. We aren't seeing the jump that Brent oil, your European priced oil is seeing. At this time, nothing has happened to stop oil production," says Eugene Graner of Heartland Investor Services.

Iraq has always been a major producer of crude oil, and as of today the key oilfields in the country have largely escaped the real impact of the fighting because they are located in the southern part of the country.

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