. Analysts point out that while tensions in the Middle East might lead to higher oil prices, this should not substantially increase the US retail price at the pump. Given that the US does not buy energy from the Middle East, the current conflict does not lower the domestic supply of crude oil, meaning that the price at the pump should remain relatively stable. That being said, there are other factors which could influence the U.S. gas prices, such as the ongoing COVID-19 pandemic, the state of the US economy, and the production and trade policies of key oil producers like Russia and Saudi Arabia.
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