Gas Prices Soar, But Why? - FOX 10 News | myfoxphoenix.com

Gas Prices Soar, But Why?

Posted: Updated:

Just when you thought you were starting to see some relief at the gas pump-- sticker shock!  Motorists across our area have seen prices climb dramatically over the past few days.  "Three or four days ago actually on Street road I seen it was $3.39 for regular," Mario Patrascu, a Huntingdon Valley resident, told Fox 29.  And now?  "Today it was $3.79."  A whopping 40-cent jump.  

It's happening all across the region.  Last Friday at a gas station in Bensalem, a gallon of regular cost ten cents less than it does today.  "One minute it's $3.15, okay it's going in the right direction, yada yada yada," a frustrated Mike Hornyak complained.  "And then the next it's $3.25.  And then $3.35, and then $3.45.  What the heck happened overnight that it went up 10 cents?" Hornyak demanded to know.

A couple of things are happening.  Experts say as the economy improves, the price of crude goes up.  At the same time refineries are changing over to their summer gas blend, which means they're not producing as much gasoline right now.  Lower supply, higher prices.  

"In the last week alone up 19 cents a gallon," Jenny Robinson of Mid-Atlantic AAA told Fox 29.  Which means drivers are on the hunt again for the cheapest gas possible.  In Pennsylvania, that means heading over the Delaware River.  "I'm getting $5 in Pennsylvania, just enough to get me over the Tacony-Palmyra bridge so I can fill up in Jersey," Hornyak said.

"Are we going to see any relief?  Not in the next few weeks, although we could see prices level off," Robinson said.  But that may not happen for a couple of weeks, at least.  March should see prices stabilize, but expect to see another spike in April.  And that's not all, Governor Corbett is proposing a gas tax hike, which could see prices go up 28 1/2 cents a gallon over the next 5 years, if his plan is approved.

  • Local NewsMore>>

  • Suspect Arrested In Upper Merion Burglary, Home Invasion

    Suspect Arrested In Upper Merion Burglary, Home Invasion

    Wednesday, July 23 2014 1:05 AM EDT2014-07-23 05:05:55 GMT
    SkyFOX was over the scene in Upper Merion just after 8 a.m. on Tuesday morning where police say what started as a burglary turned into a home invasion.
    SkyFOX was over the scene in Upper Merion just after 8 a.m. on Tuesday morning where police say what started as a burglary turned into a home invasion.
  • 'Tuesday's Children' Remembers Family Members Lost To Terrorism

    'Tuesday's Children' Remembers Family Members Lost To Terrorism

    Wednesday, July 23 2014 12:35 AM EDT2014-07-23 04:35:22 GMT
    These children all share a common bond. They've all lost someone they love - because of terrorism.
    These children all share a common bond. They've all lost someone they love - because of terrorism.
  • Shoppers Get Sneak Peak Of New Target Store In King Of Prussia

    Shoppers Get Sneak Peak Of New Target Store In King Of Prussia

    Tuesday, July 22 2014 10:58 PM EDT2014-07-23 02:58:18 GMT
    Shoppers got a sneak peak of the mega Target store located by the King of Prussia mall on Tuesday.
    Shoppers got a sneak peak of the mega Target store located by the King of Prussia mall on Tuesday.
Powered by WorldNow

KSAZ-TV & KUTP
511 W. Adams St.
Phoenix, AZ 85003

Phone: (602) 257-1234
Fax: (602) 262-0177

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices