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Anchored by Jake Tapper, The Lead airs at 4 p.m. ET on CNN.

Anchored by Jake Tapper, The Lead airs at 4 p.m. ET on CNN.

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August 30th, 2013
06:09 PM ET

How Syria intervention could affect U.S. gas prices

While President Barack Obama considers the consequences of military action in Syria, one of them could involve the pocketbooks of regular Americans filling up their tanks.

The worst case scenario for gasoline prices is that the conflict escalates and spreads to Iran and Iraq, said Jim Lacamp, senior vice president and portfolio manager with Macro Portfolio Advisors. Plus, there is already unrest in Egypt.

"If this escalates into other countries, you could be talking about a disruption of global oil supplies. And speculators would come in and start driving up the price as well. You could see gasoline prices here in the U.S. go up to $5 or so," said Lacamp.

If the U.S. takes limited action, the impact on oil prices would not last long.

"My best guess is it is a limited reaction, and prices escalate for a couple of days, and prices will come back down. We don't have a supply or demand issue in this country," said Lacamp.

For more of our interview with analyst Jim Lacamp, check out the video above.

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