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March 24, 2012 1:00 pm

Obama: Iran Tensions Drive Gas Prices Higher

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President Obama in the Oval Office speaking with Israeli PM Netanyahu. Photo: wiki commons.

USA Today – For all the domestic political talk about high gas prices, President Obama says one major factor can be traced overseas: Iran.

“Right now the key thing that is driving higher gas prices is actually the world’s oil markets and uncertainty about what’s going on in Iran and the Middle East,” Obama said in an interview with AAA. “And that’s adding a $20 or $30 premium to oil prices, and that affects obviously gas prices.”

Obama also cited Iran during his recent two-day western tour to discuss gas prices, and his “all-of-the-above” strategy that includes investment in new sources of energy.

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