Iran is threatening to close the Straits of Hormuz, again. News came out last week that the Keystone XL pipeline was turned down. But what does all of this mean for the price of gas at the local pump? Petroleum analyst Patrcik Dehaan explains the current situation.

Specifically, Dehann predicts that gas prices will rise anywhere from 3 to 5 cents per gallon and that in the next week, all three dollar and under gas in Montana will be long gone.