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As soon as we see $100 a barrel oil, an energy expert is predicting $5 a gallon with worse to follow.
"My guess is that you are going to see $5 a gallon at any triple-digit [oil prices] ... as soon as you get to $100. And you might get to $6.50 or $7. Forget about $150 a oil, I don't know where we will be bv then," Energy Word founder Dan Dicker said on Yahoo Finance Live.
Russia produces 10 million barrels of oil a day, the equivalent of 10% of global demand and with artillery shelling of Ukraine this morning and a response expected as I write this, things are only going to get worse.
Oil has climbed 13% and currently sits at $94 a barrel. Would you pay crazy high prices for a gallon of gas?