Experts warn withdrawal from Iran nuclear deal brings higher gas prices

HARTFORD --  You may have noticed some changes at the pump that are leading to less change in your wallet.

“I put $30 in my car and the meter like barely moved,” said Tanna Howard of Suffield.

“Now the price is like everywhere is up now,” said Hartford resident Renee Beaufort.

Gas prices have been on the rise for weeks and they’re expected to hit an average of $3 a gallon by Friday.

That’s forcing drivers like Howard to cut back on other expenses.

“Definitely shopping,” Howard said. “Something I love dearly. I can’t do as much of it.”

Howard is among some drivers who will also be cutting back on summer travel.

“I wanted to go to Atlanta, I wanted to do a road trip,” she said. “But I’m sort of debating now because it is expensive.”

It means less vacation time for Beaufort’s grandson.

“Not too much, not too many places where I got to use gas,” Beaufort said.

This is the highest gas prices have been since the end of 2014. According to AAA, prices have jumped about 25 cents in the last month and nearly 50 cents in the last year.

Experts said it is not unusual this time of year as more companies switch over to the more expensive summer blend of gasoline. However, they say gas prices are also higher and may continue to increase due to President Donald Trump’s decision to withdraw from the Iran nuclear deal.

The US plan to re-impose sanctions on Iran, the world’s fifth largest oil producer, will force the country to pull some of its oil supply from the market, which will create less supply and in turn higher gas prices.

“More sanctions the better,” said West Hartford resident Steven Marks. “I mean I’m a dual citizen of Israel and I’m very happy with everything that’s going on with Iran.”

Not everyone feels the same way.

“We definitely are feeling the pinch,” Howard said. “Definitely.”