According to a BBC article, oil prices increased to $68 a barrel, which is a six month high. http://news.bbc.co.uk/2/hi/business/6506005.stm# Gas prices in the bay area are easily greater than $3 per gallon and one main contributor to this is the problem with the West and Iran. Earlier this week the British sailors that are being held hostage in Iran were broadcast on television, which increased hostility between Iran and the West. This, in addition to the extremely high demand and diminishing supply of oil, is continuing to cause gas prices to increase. Iran has also been trying to gain nuclear power which is causing tensions to grow. The article says that the shipment from Iran has continued to remain constant, but there are fears that they may begin to decrease.
The high gas prices have caused people to look elsewhere for transportation. I have noticed there are more people taking the light rail to work and school, probably to save money. I am glad that I don't have to drive a long distance to work or school, but some people commute over an hour to work. Also, the demand of SUVs may begin to decrease because of the high gas mileage that they have. The problems with the West and Iran have greatly affected all of these things.
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