Why are gas prices going up?

February 6, 2009 3:21:31 PM PST
After paying as much as $4 a gallon for gas last year a lot of motorists have been practically giddy paying less for gas the last few months. But , drivers are starting to notice those prices are beginning to creep up.

"It's been going up now for the last three weeks or four weeks. It goes up 10 cents, and it comes down a penny," said George Haluska of Yardville, New Jersey.

"With gas you don't see the reason it's going up. One minute it's up, the next minute it's down, so it doesn't make a whole lot of sense," said Joan Warner of Schnecksville, Pa.

Over the last month or so the average price of a gallon of gas has risen as much as a quarter in some places.

So, what gives?

"It's kind of counterintuitive, because oil prices are flat or falling," said Dave Weinstein of AAA. "The gas prices are rising, and a lot of people are asking the questions "Why?" The reason is refineries are slashing output to make sure they do make a profit."

So, making less gas available will drive up the price.

CLICK HERE to check the price of gas in your area.

AAA says to expect the average price of gas to jump another 10 cents by Valentine's Day.

"I'm on a fixed income, so it does affect you, your buying, you watch all around," said Marie Henry of Columbus, New Jersey.

Gas deliveryman Don Richardson told Action News he doesn't think the escalating gas prices will come between people and their cars.

"Even if they've got their last dollar, people are not going to give up their automobiles. They'll give up their house before they give up their automobiles," Richardson said.

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