UK Professor says gas price spike might be short term

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LEXINGTON, Ky. (WTVQ) – After an attack on a Saudi Arabian oil facility this weekend, the price of gas is a concern here in the U.S.

CNN reports, head of petroleum analysis at Gasbuddy, Patrick Dehaan, estimates the hike is a matter of cents. He said people could see prices go up from 10 to 25 cents a gallon in the next few weeks.

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ABC 36 talked to Mike Clark, the UK Interim Director of the Center for Business and Economic Research about the seriousness of the attack from a U.S. perspective.

He said there’s a level of uncertainty around the long term impacts.

“We’re starting to hear at this point that some of the supply can be back online fairly quickly, so the price increases may not be very large and may not last very long,” Clark said.

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Monica Harkins joined the ABC 36 News team in June 2019 as a Multimedia journalist and Anchor/Producer. She’s born and raised in Austin, Texas and headed “North,” as she calls it, to study broadcast journalism and business at the University of Missouri. While at Mizzou she anchored and reported for KOMU 8 News, an NBC affiliate in Columbia, Missouri all four years. During her childhood she played almost every sport, but they always called her “Hollywood” for her love of theatre. In high school, she realized her excitement for theatre and performing was only a small piece of the puzzle. It’s story telling that’s her passion. She’s especially passionate about social media and creative platforms to tell stories. Her most recent experiment is being a FAA certified drone pilot. As a proud Texan she says she’s made of country music, Southern hospitality and Sweet Tea. When she’s not at work you can find her trying new recipes, listening to crime podcasts, reading the latest romance novel or rockin’ out to live music with friends. She says she’s only a tweet or Facebook message away, so say hi and send her the latest on your community. @MonicaHarkinstv or Mharkins@wtvq.com