Rising Gas and Oil Prices 2012

Gas prices are on the rise again at the start of 2012. When ever gas prices rises it put additional burden on middle income people and the economy because we import oil from other countries. This current rise is a result of rising tensions between Iran and NATO.

So have you wondered that why the Gas prices are rising even in this bad economy. The reason behind oil price rise is that about 40 percent of world oil flows through Strait of Hormuz and this route is a very narrow route. This is the major reason why the oil prices are on rise and we do not know yet where the prices are going to stop . However once the issues get resolved we must again expect the oil prices to come around 4 dollars per gallon.