Gas prices deplete consumers' wallets again
The price of filling your tank is surging again.
The price of gas per gallon has gone up nearly 20 cents nationwide over the past 10 days.
Basham Shadid has definitely noticed. Gas prices at his neighborhood gas station in Wheaton have jumped from $3.35 to $3.59 in the past week and a half.
The price is up more than $4 a gallon in our area. But why?
“This time it’s not crude, it’s the domestic refining industry,” says Mark Cooper, an oil industry watchdog for the Consumer Federation of America.
Cooper says the refiners, those who take the crude oil and turn it into gasoline, have decided to hike their prices.
“The fundamental problem here is they have market power and they use it whenever they have an excuse,” he says.
And Cooper says right now there is no real good reason for the increase, but prices are up regardless.
“They are taking it out of our pocketbooks, that’s for sure,” says Molly Tucker.
For now, the prices are getting almost unbearable for consumers like Camilla Toscano, who uses her van to take her young children around town.
“It’s always here and there, from activity to school,” she says. “It’s a lot.”