Area Motorists Feeling Pain At The Pump As Gas Prices Continue To Rise Nationally
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By Molly Daly
PHILADELPHIA (CBS) — It’s getting more painful at the pump, as gas prices continued to climb on Monday.
According to Triple-A, the average cost of a gallon of regular gasoline is $3.66 in the five county Philadelphia area. That’s ten-cents more than the national average.
Recent history suggests that when fuel prices break the $3.50 mark, they tend to stay there.
Crude oil has gone up 12-percent in the last six weeks — it’s 21-percent higher than it was a year ago.
Triple-A Mid-Atlantic’s Jenny Robinson said there are several reasons for the spike in price.
“Some of the economic uncertainties in Europe, as well as threats by Iran to close the Strait of Hormuz, Robinson said.”
And because of low demand, some U.S. refineries have shut down, constricting supply and sending prices up.
So where do gas prices go from here?
“Unfortunately, there’s nowhere to go by up when it comes to gas prices, added Robinson.”
At this rate, a gallon of regular could hit four-dollars by the end of April — and things won’t improve until oil prices ease.
Since the high prices are inevitable, Triple-A has a Trip Tick app for smart phones that will help motorists compare gas and diesel prices, and hopefully save some money.