WASHINGTON (WCBD) – The price you pay at the gas pump may soon be on the rise.
The White House is pushing to completely cut-off oil from Iran. Some analysts warn this could drive gas to $3.00 a gallon or more.
The Trump Administration told major importers that if they continue buying crude oil from Iran when waivers expire next month, they’ll face stiff sanctions.
“The goal remains simple, to deprive the outlaw regime of the funds that it used to destabilize the Middle East for decades and incentivize Iran to behave like a normal country,” said Secretary of State Mike Pompeo.
The move comes nearly one year after the United States dropped out of the Iran nuclear deal.
Now, the Trump Administration hopes to force Iranian leaders to negotiate a new deal. It would cover nuclear activities along with the country’s ballistic missile program.