Here Comes The Media Panic About Gas Prices

With war erupting between Israel and Iran, media outlets are already declaring gas prices will soar overnight. Just like chicken little crying that the sky is falling, these reports seek to whip people into an emotional frenzy with the aim that people rush out and buy gas right now.

Minivan driver misses a highway exit and causes a multi-car crash.

Ironically, if everyone were to do that, we might see a little bit of an increase in prices thanks to temporary shortages. But all of this is really about getting people worked up so they’re reading the news, along with scoring some political points on a certain side.

We’ve already seen multiple reports on local and national news outlets about oil industry experts warning that everyone should go top off their tank right now instead of stopping and thinking rationally for a moment.

The thing is the United States doesn’t buy oil from Iran or Israel.

But these industry experts are pointing out that the price of oil has risen since news of Israel’s strike on Iran came out. That’s true, but just like other commodities in an open market, oil prices do fluctuate.

We suppose some believe Iran will try striking the oil supply in other Middle Eastern countries to cripple the West. After all, we saw that kind of behavior in Desert Storm and the Iraq War. But keep in mind we get oil from other places as well, including domestically.

If anything, this situation makes a great argument for domestic energy production, including oil. We maintain greater control over something which affects out economy on every level. Considering how unstable certain parts of the world are, keeping it within our own borders as much as possible is a great idea.

We hope people don’t fall for the panic and rush to the gas station, filling up their tanks because they sincerely believe prices will spike. After all, you can fill up your tank this week, but you’ll need more gas in a week or so.

Image via Engin Akyurt/Pexels