Rising Gas Prices

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Rising Gas Prices

By Brooke Hart & KULR Staff

U.S. - Before many of you hop in your cars this morning, remember that that fill-up at the gas station could eat your lunch money. A new report out Wednesday will detail why gas prices are where they are, and where they're going.

Gas prices are draining wallets. Wednesday the Consumer Federation of America releases its report, "Why can't consumers catch a break?"

The question, why do gas prices hover near record highs despite the highest gas stocks in a decade? A slower U.S. economy and higher ethanol production, all forces that should drive prices down. Not now, says Triple-A’s Troy Green, "California, New York, Hawaii, those states, there is a chance that they may see $4 dollars a gallon come Memorial travel holiday." The cost of crude and coming peak driving season are strong forces pushing prices up. In Houston, one driver stole fuel in plain sight, lowering a hose into fuel storage tanks and making off with a thousand gallons of diesel.

Many drivers are shifting gears on expenses. One driver, Rod Skidmore says, "Like maybe vacation, like maybe the type of car I buy."

Carmakers are competing big-time in fuel efficiency: expect to see some new hybrids, clean diesels and hydrogen fuel cells as early as this summer.

And those vehicles may come just at the right time, with Triple-A predicting that prices could rise a quarter a gallon on average nationwide, over the next two months.

Wednesday, Mar 26 at 9:59 PM Cece wrote ...

Cheap - What do you drive that you get 100 mpg? Most of us are lucky to get 15mpg in town. Therefore, if I drive to and from work = say 15 miles/day = 1 gal/d at $4 X 22 days = $88/mo and at $3.27 X 22 = $71.94/mo and that is not any type of travel where I might get 25 mpg. Yes, I bought my used car in 2001. Gas prices were about $1.50/gal or less than half of what it is now. You are obviously flaunting your sarcasm. However, I commend you on your car choice.

Wednesday, Mar 26 at 6:50 PM mikeprs wrote ...

I sold my 2002 dodge 1/2 ton truck two years ago when gas hit $ 2.00 per gallon. I bought a toyota tacoma. I am now coverting my car to a hydrogen/hybrid to get at least 37 miles per gallon on my 2007 V6 toyota. I think it's time we all "get of our gas" and figure out alternative ways of traveling cheaper.

Wednesday, Mar 26 at 12:43 PM Anonymous wrote ...

http://www.consumerfed.org/pdfs/2008gasolineprices.pdf "It is critical for policy makers to ensure that the 2007 Energy Independence and Security Act” is implemented vigorously since it emphasized the two key long-term elements that can help consumers escape from the grip of both the domestic refining oligopoly and the crude oil cartel – expansion of alternative fuels and reduction of demand through increased fuel economy."

Wednesday, Mar 26 at 12:36 PM Cheap wrote ...

$4.00 PER GALLON! Hum, let’s see, I drive 60 miles per day to go to work and back home so that is 60 times 22 days of work a month or 1320 miles each month. I get just over 100mpg in my car so that is 13.2 gallons of gas each month just to get to work. 13.2 X $3.27 = $43.17 a month, or $1.96 per day Vs. 13.2 X $4.00 = $52.80 a month, or $2.40 per day Why that is an extra $9.63 every month or 44 cents every day just to commute to work. DO THEY THINK I AM MADE OF MONEY?

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