Gas Prices Soar, But Why? - New York News

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>>

  • Home Invasion Suspect In Custody May Be Connected To Other Cases

    Home Invasion Suspect In Custody May Be Connected To Other Cases

    Wednesday, July 23 2014 7:13 AM EDT2014-07-23 11:13:19 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.
  • Local NewsLocal NewsMore>>

  • 'Broken Windows' tactic questioned as chokehold victim laid to rest

    'Broken Windows' tactic questioned as chokehold victim laid to rest

    Wednesday, July 23 2014 7:24 AM EDT2014-07-23 11:24:25 GMT
    The recent death of a man from Staten Island while he was being arrested by NYPD officers is calling into question a police crackdown on petty offenses to discourage more serious crime. Critics say policing based on the so-called "broken windows" theory can needlessly put people at risk and fuel tensions in the city's minority communities.
    The recent death of a man from Staten Island while he was being arrested by NYPD officers is calling into question a police crackdown on petty offenses to discourage more serious crime. Critics say policing based on the so-called "broken windows" theory can needlessly put people at risk and fuel tensions in the city's minority communities.

  • 3 NYC boys get recording contract approval

    3 NYC boys get recording contract approval

    Wednesday, July 23 2014 6:34 AM EDT2014-07-23 10:34:12 GMT
    New York City NewsNew York City News
    Three middle school students got permission from a Manhattan judge to sign a multi-year recording contract with Sony. The court's approval allows the heavy metal band, Unlocking the Truth, to record their first single Wednesday for The Cherry Group, a division of Sony. The Brooklyn boys had to get court approval because they are minors.
    Three middle school students got permission from a Manhattan judge to sign a multi-year recording contract with Sony. The court's approval allows the heavy metal band, Unlocking the Truth, to record their first single Wednesday for The Cherry Group, a division of Sony. The Brooklyn boys had to get court approval because they are minors.

  • FAA bans U.S. flights to Tel Aviv airport

    FAA bans U.S. flights to Tel Aviv airport

    Wednesday, July 23 2014 6:28 AM EDT2014-07-23 10:28:48 GMT
    The Federal Aviation Administration has banned U.S. carriers from flying to Israel's main airport for 24 hours. The FAA made the announcement at about 12:40 p.m. on Tuesday. This comes after two U.S. airlines cancelled all flights to Israel until further notice following a rocket landing near the Ben-Gurion Airport earlier in the day.
    The Federal Aviation Administration has banned U.S. carriers from flying to Israel's main airport for 24 hours. The FAA made the announcement at about 12:40 p.m. on Tuesday. This comes after two U.S. airlines cancelled all flights to Israel until further notice following a rocket landing near the Ben-Gurion Airport earlier in the day.
Powered by WorldNow
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