Jacksonville, FL - With Venezuela now facing the challenge of installing a new leader, could that mean a dent in your wallet?
“We’re going to have to keep a close eye on what happens over the next few days,” says oil expert Greg Laskoski.
He tells us the markets were already closed when news broke about the death of Venezuelan President Hugo Chavez, so there were no immediate indicators. Even when the markets open in the morning, he’s not sure we will see a big change if things stay calm overnight.
“If there’s violence in Venezuela, if there are widespread demonstrations- things that seem to destabilize the government- then that could certainly be disruptive,” he says.
He expects there may be an immediate spike in crude oil prices, but says it’s not yet clear if that will last, and whether it will translate to retail gas prices for you. Those answers should become clearer in the next few days.