Gas Prices Continue to Rise
CNN Money reported Monday the average price for a gallon of gasoline in America is $3.73. Gas prices in Algonquin and Lake in the Hills are even higher.
Most motorists have noticed that the price of gasoline has done nothing but rise over the past month.
CNN Money reported Monday that the average price for a gallon of regular unleaded gasoline in America has increased more than 13 percent over the past 32 days to $3.73.
As of Tuesday morning, gas prices in Algonquin and Lake in the Hills ranged from $3.95 at many area gas stations to $4.04 at the Marathon station at 2050 E. Algonquin Road, according to GasBuddy.com
CNN Money is crediting the price increase to a combination of factors including rising crude oil prices, production cuts and refinery closings.
The Chicago Tribune reported last weeka number of refinery issues in the area have affected the gas prices including an overhaul of BP's Whiting refinery and a fire at a refinery in Ohio.
AAA predicts local refinery issues will continue to push gas prices up in the months to come, according to the Tribune article.
Dan Arenov
11:05 am on Tuesday, February 19, 2013
These high gas prices that we've been seeing for the last 4 years are really hurting the lower wage earners in our society.
To a worker who was bringing home $400 a week in 2008 and was spending let's say $30 to fill up his tank once a week to get to work, that same worker is now paying $60 a week.. that's huge.
$120 a month to somebody who lives week to week is a lot. It's the difference between buying new shoes or going out to dinner, etc..
Add in the fact that with the payroll tax increase, we are all seeing 2% less in our paychecks...it's bad news for workers.
Who to blame? I remember Bush being blamed when fuel prices went up in 2006/7, but how much does a president actually have to do with the price of gas? Supply and demand are factors, but it's a tangled web.
Vicky Kujawa
11:43 am on Tuesday, February 19, 2013
It's ironic; the people getting the biggest screwing (and can least afford it) are the ones that voted for this....
David
7:50 pm on Tuesday, February 19, 2013
What's ironic Vicky, is that you are commenting on a story that you obviously know nothing about. The president doesn't control the price of oil. I guess you completely forgot about the extremely high price of oil under dubya that helped push this economy into the Republican Great Recession. Did you vote for that at the time?