Oklahoma’s Gasoline Prices Could Climb Over President’s Iran Nuclear Arms Deal Pullout

President Trump’s decision to pull out of the nuclear arms deal with Iran, the one created by the Obama administration is already leading some energy specialists to suggest it will lead to higher gasoline prices in Oklahoma.

But Leslie Gamble, Public and government Affairs Manager for AAA Oklahoma doesn’t expect an overnight reaction at the pumps.

“We do not expect to see an immediate increase in gas prices based on this announcement,” she said. “With the Iran sanctions reinstated, gas prices–that have already been up 45 cents over a year ago–could increase further.”

She said the national average might range between $2.80 and $3 a gallon.

“Any immediate impact will affect crude oil prices, which will then be passed over to retail this summer,” added Gamble.

Prices for West Texas Intermediate reached a new high of $70.84 a barrel on Monday.

Earlier this week, Oklahoma had the lowest average in the nation at $2.52 a gallon, up 44 cents from one year ago.