Gas Prices Pass $3 Mark
We're no strangers to pain at the pumps, but it appears gas prices are climbing on a more regular basis. Monday, we see some local gas stations selling regular unleaded gas for more than $3. The national average is currently $3.07 for a gallon of regular unleaded, and Erie is creeping closer and closer to that very price. $3.0...that's what many of you will be paying for a gallon of gas when it's time to fill up. Local gas prices have jumped about $0.20 from just a month ago. Nationally, they've jumped up to $0.50. And we haven't even hit the prime travel season yet.
Oil industry analysts are pointing to refinery shutdowns that have cut refining capacity and gas supply. This all comes as the summer driving season begins and when demand goes up.
Analysts say the prices could continue to rise until they reach a level that will slow the demand. We could possibly even see $4 for a gallon of regular unleaded at some point this summer.
