Oil prices rising; could they hit $100 a barrel?


Don’t look now, but oil prices are going up.

The price per barrel right now is a little over $66, and there are some oil executives who think it could go much higher.

Anish Kapadia of Akap Energy told CNBC he thinks we could see oil at 100 dollars a barrel at some point. Tim Snyder with Matador Economics, an oil economist, told KTRH if this happens, it's because of what's happening overseas,

“That happens when we have a metric in the marketplace that comes from the geo-political unrest; what we are seeing in Syria,” Snyder explained.

So let's just say that unrest continues and prices hit $100 a barrel. How does that impact gas prices?

“It won’t be as dramatic. We won’t see four dollar gasoline, but we could spike up to nearly three dollars,” Snyder stated.

Right now the average gas price around Houston is at $2.50 a gallon, though some stations are as high as $2.89 a gallon.


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