Gas prices steadily rising

March 10, 2009 8:24:32 AM PDT
Oil experts are warning we will continue seeing higher prices at the pump.The national average now stands at $1.95 a gallon, up just pennies in the last few weeks.

The average in Philadelphia is at $1.98, the average in Delaware is at $1.88, and New Jersey is the cheapest in the tri state at $1.77.

This time last year, a gallon of gas cost about $3.21. However, people are starting to worry as gas prices steadily climb.

There are a number of reasons for the increase in price. This is the time of year when refineries produce less gasoline as they switch to summer blends and do maintenance work. Add to that the price of a barrel of oil is now approaching $50 dollars, up nearly $10 from just a few weeks ago. OPEC nations are also likely to cut production by as much as half a million gallons a day.

The combination means just one thing: An increase in prices at the pump.

Some people are already feeling the pinch.

"I don't fill it. I just use enough to go to work and get back home," said Greg King of Trenton.

New Jersey's lower gas tax is the reason gas is cheaper there.

"I'm in sales, and when I'm in Jersey I fill up. That's the smartest move to make," said Herbi Alonso of Reading, Pa.

Oil industry analysts say the prices will probably rice 50 to 75 cents a gallon by Memorial Day, peaking in June or early July.

However, they say we won't see the $4 per gallon we saw last summer.

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