Instability in the Middle East is the main reason for rising prices for oil in America, US President Barack Obama said in Miami, Florida, on Thursday, ITAR-TASS reports.
The president noted that this time it is the tensions over Iran that provoke rising oil prices. Demand for oil will increase in China, India and Brazil. China has increased demand for fuel 5-fold. Its number of cars increased by 10 million.
An average price for gas in the US is $3.58 per gallon. Experts expect it to hit $4 per gallon in November.
Obama condemned the Republicans for their attempt to gain political popularity by criticizing the administration. Rick Santorum, a candidate for president, predicts fuel prices at $5 per gallon, Newt Gingrich predicts $2 per gallon.
President Obama said that his administration is realizing long-term measures to reduce petroleum imports and prices and develop new technologies for development of alternate energy sources.
