What’s behind the steadily rising fuel prices we’re paying in CSRA?
AUGUSTA, Ga. (WRDW/WAGT) - Gas prices have increased in the past 18 months across the country.
At the end of April last year, gas prices were at $1.74 per gallon and now they are up to $3.26 per gallon.
And those same experts say gas prices are the highest they have been in seven years.
We spoke with an expert from GasBuddy and they say some reasons include low oil production and the pandemic.
It’s all about supply and demand. Right now supply is not keeping up with the demand. That means gas prices are the highest they’ve been in seven years.
“Being over $3 seems like too much for everybody right now,” said Philip Vorgatti.
Vorgatti has seen this increase and he doesn’t like it. AAA says the average price is up eight cents just in the past week. And the average price here in Augusta is now $3 a gallon.
“I’d like for it to be free, but yeah, definitely not $3, though,” he said.
“All of this, really, has to do with demand going up and supply hasn’t really followed,” said Patrick De Haan.
De Haan is GasBuddy’s head of petroleum analysis. He says oil production from OPEC and here in the United States is not high enough to keep up with demand. Oil prices are rising and he believes gas prices won’t go down any time soon.
“I don’t know that we’re gonna see any sizable relief until potentially later this year, and the question is, will we see the problem improve by then,” said De Haan.
He believes we will keep seeing rises this week. Vorgatti doesn’t want to see that.
“We should find some billionaires out there that give some free gas out every few months,” said Vorgatti.
In case that doesn’t happen he’ll just have to pay whatever the price is.
“Can’t go without gas, you know,” he said.
De Haan expects prices to keep going up in the next few months. It’s hard for him to forecast beyond that because of the pandemic’s unpredictability.
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