Gas Prices Continue To Pinch Consumers’ Wallets

Drivers continue to feel the pinch at the pump as prices continue to rise.

As it turns out, there are several things pumping up the price.

Here in Michiana prices are around the $2.60 mark.

In the past two weeks, prices are up as much as 20-cents a gallon in some places.

Experts claim it is because of supply and demand.

The recent cold snap increased demand for petroleum while supplies tightened sending prices up.

Every dollar increase in a barrel of crude translates to about two and a half cents at the pump.

Also, problems at the nation's refineries are driving prices up this year.

Jeff Lenard, director of communications for NACS stated, "The refining capacity in this country is quite strained. We haven't had a new refinery built since ford was president."

There is a bit of hope; expert say prices are not expected to get as high as they did last summer.


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