A weekend attack on Saudi Arabian oil facilities could mean higher gas prices in the U.S.
The price of a barrel of oil jumped overnight after the attacks, but settled back down after regulators opened oil reserves in the U.S. Still, the price of a barrel closed over $60 on Monday.
So what does that mean for your wallet?
Eugene Graner with Heartland Investors says gas prices could go up 15 to 20 cents a gallon over the next couple weeks, to compensate for the higher oil prices.
“As long as we level off at $6 a barrel jump, I'd say anywhere from 15 to 20 cents is our price rise we possibly could expect in the coming week or so,” Graner said.
Graner says the other thing to keep an eye on are hurricanes at this time of year. If one creates problems in the Gulf of Mexico, that could also make the price of oil jump.