NEW YORK (CNNMoney) -- Tensions with Iran are adding at least 30 cents to a gallon of gasoline in the United States, and experts say gas prices have only just begun to rise.
Gasoline prices have surged over 10% in the last two months, largely tracking the runup in oil prices, which have increased by a similar amount and are now at a 9-month high.
Several factors have caused oil prices to rise, including the sense that the economy is improving and supply disruptions in a handful of minor oil producing nations.
But the biggest factor by far, say analysts, is fear that tensions with Iran will lead to an all-out war that causes a disruption in oil supplies.
"The market right now is fairly well supplied," said John Kingston, director of oil, at the analytics firm Platts. "You've just got a significant fear factor that things could get worse."
Kingston noted that OPEC is actually producing more oil right now than is needed to keep pace with global demand. As such, stockpiles are rising.
ref:
http://money.cnn.com/2012/02/23/markets ... &hpt=hp_c1
