Buffalo, N.Y. (WBEN) - The U.S. and Israeli strikes on Iran are expected to raise the price you pay at the pump, and quickly.
Oil Price Analyst with GasBuddy, Patrick De Haan says the Buffalo area may see a delay in rising prices, because we are still using a winter blend. That doesn't mean, though, we will be safe from the impact.
"When it does begin, prices will likely rise 10-to-35 cents a gallon," De Haan said with WBEN on Tuesday.
That increase could happen in as little as a few days.
"Gasoline is very much a just in time commodity," De Haan said. "That gas you're putting in your tank today probably just arrived at the gas station yesterday. While there is intermediate storage, it's one of those things where the market price has always been the commanding force."
It's, perhaps, the only time you will get to compare your corner gas station to Michelin Star dining.
"It's kind of like going to a fine restaurant. Seafood might say 'MP' for Market Price," De Haan said.
He adds oil markets today are not just reacting to the attack on Iran, but the possibility that Iran may retaliate against oil tankers in the region.
The current average price for a gallon of unleaded in the Buffalo region is $3.07, according to AAA data. That's down from $3.10 a year ago today.