Williamsville, NY - Possible U.S. military action in Syria has many wondering on this Labor Day weekend whether gas prices will jump.
Friday, we went to the experts to find out how what's happening overseas could impact your family's budget.
"What it's going to do is just cause, obviously, a lot of uncertainty, and the stock market does not like uncertainty," says financial advisor Michael Curatolo with Georgetown Capital.
Curatolo has this stock advice for September, a traditionally a weak month for the markets.
"If you're fully invested, maybe now is the time to back off. If you've been conservative this whole time, and you've been moderately invested in the stock market, this isn't anything to be concerned about," he says. "The Syria issue is a big thing to be worried about if it progresses. If it is just a little blip, on a one week issue, you know, then, the world just keeps marching on. As long as oil prices don't skyrocket, then we're in good shape."
Curatolo thinks gas prices will go down if the conflict is over quickly.
Oil hit a two-year high Wednesday pushing the average price of gas in the U.S. up two cents Friday to $3.59 a gallon.
Gregg Laskoski, with the website gasbuddy .com, says if the situation in Syria were to accelerate, that would typically translate into a 25 cent a gallon increase at the pump.
"If we were having this discussion in March or April, I think you would see a great deal more volatility in crude oil market and in retail gasoline, but because we're talking about this at Labor Day weekend when we're basically at the end of the summer driving that bodes well for consumers because once we get Labor Day behind us, consumer demand drops significantly," says Laskoski.
Laskoski also points to the benefits of increased domestic oil production since 2011 and more production from Canada and Mexico.
And, Curatolo says overall there are more pressing financial issues to be worried about.
"What's going on in Syria is one thing, what's going on with rising interest rates and the problems in Washington with the debt ceiling, that's the real thing you need to be looking at," he says.
The United States will hit its borrowing limit in mid-October. If Congress fails to raise the debt limit, the nation could potentially default on its debt which the Treasury Secretary said this week would have disastrous consequences.