All summer long, residents on Long Island have seen the price of gas shoot up. Now, with fighting escalating between Lebanon and Israel, the fear is that gas prices will go even higher.

The conflict in the Middle East is causing oil prices to shoot up in parts of the world. The bombing of Nigerian oil refineries and the Iran nuclear standoff is also affecting the price of gas. Currently, the price of oil is $78 a barrel. For residents on the Island, the average price at the pump is $3.25 a gallon for regular gas. A contractor says he pays about $300 a week for gas for his two trucks.

The fear is that the price of oil will rise to $90 a barrel and the gas crisis will be like that of the 70s. A Long Island Association economist, however, doesn?t believe the price will escalate to that point right now.

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