Mideast strife could spike oil prices

Tensions in the Middle East could lead to home-heating and gas price increases for Long Island residents.Kevin Beyer, the president of the Long Island Gasoline

WOODBURY - Tensions in the Middle East could lead to home-heating and gas price increases for Long Island residents.

Kevin Beyer, the president of the Long Island Gasoline Retails Association, says gas prices are on the rise because Iran is threatening to cut off exports to Europe.

"If they're going to cut down some of the supply, obviously it's going to be less supply available for the European nations, it's going to be less supply for the world," Beyer says.

According to Beyer, gas prices could easily hit $4 a gallon.

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