Unrest in Egypt Means Gas Prices Could Rise

By Jamie Ratliff and Ari Mason
|  Friday, Jul 5, 2013  |  Updated 6:40 PM EDT
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The unrest in Egypt could increase the price you pay at the pump.

Jamie Ratliff, Jon Wardle

The unrest in Egypt could increase the price you pay at the pump.

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The latest unrest in Egypt could hit our bank accounts like the "Arab Spring" did in early 2011, causing gas prices to spike once again.

As of Friday, Connecticut had the fifth highest average gasoline price in the country, according to AAA. Connecticut gas prices climbed to $3.99 back in February, and drivers may see that number once again.

"I have two jobs, and one I deliver food," said Connecticut resident Chris Bruno. "I end up spending a lot of money on gas, so this hits me hard."

Gerry Katz, owner of Gerry's Shell Food Mart in New Haven, says he's already paying more due to the trouble in Egypt.

"My cost has gone up 25 cents in just a week," said Katz.

Katz said that if the unrest continues, drivers could end up paying $4 per gallon as soon as next week.

"What are you going to do though?" asked driver Bobby Vannaseng. "You've got to pay it. It's like air. We need it."

"It could go $5 a gallon," said Katz. "Egypt controls the Suez Canal, so God forbid there are disruptions at the Suez Canal."

With a state tax increase recently in place, oil costing more than $100 per barrel and summer travel bringing people to the streets, it's an equation for more pain at the pump.

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