On Your Side: Gas Prices on the Rise

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March 14, 2007

You've probably noticed your wallet is a little lighter these days...and you can thank the price of gasoline for that.

AAA says prices have risen about 30 cents in the past month.

It seemed so nice in January when gas was around $1.85, but that is all a memory now.

Now at most gas stations in the area, gas is somewhere in the range $2.30 to $2.40 a gallon.

So why is that?

AAA says the inventory of gasoline is lower right now, and when supplies are down, costs go up.

In addition, a lot of oil and gasoline producing companies are converting over from winter blends to fuel to the summer blends. That too increases the cost.

Either way, prices are up. In fact, they are 15 cents higher than the price from this time last year.

But AAA says they probably will stay steady for a while.

"As travel season hits, we always see a little increase in the prices of gas," said Judy Reville of AAA. "Right now we're thinking it will slow down. The increases won't be quite as drastic as they've been."

As for any word on whether or not we'll see $3 a gallon again, no one seems to know.

But even if it does get that high, AAA still expects a lot of people to still get on the roads for summer vacations.




 
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