Denton Gas Prices on the Rise

Tosha Etufugh

Saudi Arabia faced an economic attack in one of their gated communities called Abqaiq. This location majorly aids global economies and is filled with oil and gas facilities. However, according to the Denton Record-Chronicle, this attack has “...suspended half of the kingdom’s processing — corresponding to 6% of world supply —”.

Houthi rebels, who reside in Yemen, have admitted that they are responsible for this attack saying, “they used a swarm of drones to inflict great damage”. Although these rebels have admitted to this assault, the Denton Record-Chronicle writes that there has been “suspicion that Shiite militias in Iraq were the culprits, and that they used cruise missiles”. The Islamic Republic denies being involved in this assault, but since it cannot be proven that the attacks came from Yemen, the whole of Iran is to blame.

In addition, Gas prices have shot up as a result of this economic attack, and many people are concerned. In the beginning of the year, the lowest average gas price was $1.93; after the assault, prices range from $2.39-$2.49. Questions arise about whether this influx in cost will reduce or continue to spike.