Drivers Burdened By Unusually High Fall Fuel Prices
By Jim Melwert
PENNSAUKEN, N.J. (CBS) – Gasoline prices typically fall in the autumn months. But so far, this year isn’t typical.
This time of year, demand drops, companies switch to cheaper winter blends, so typically prices fall. But analysts say now, prices are much more stubborn – at record highs for this time of year – that’s not what drivers want to hear:
“I drive 300 miles a week, so twice a week I get to fill up, isn’t that fun. Awesome for my pocketbook.”
James from Camden, says he thinks the high prices are just companies looking to line their pockets.
“Raise the gas prices, get a little profit. If you’re living paycheck to paycheck, it is a big difference, you know, you feel it.”
The good news is prices have come down about a dime from late summer highs, bad news: they’re still up 32 cents from the same time last year.
Analysts point to recent refinery issues and lingering effects along the gulf coast after Hurricane Isaac, saying it’ll probably be a few more weeks before supplies recover enough to see a noticeable decline in pump prices.