High Gas Prices Cause Many to Rethink Travel Plans

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With gas prices soaring across the United States, taking a summer road trip just became a lot less affordable for millions of Americans.
"Prices have been getting pretty high," one motorist said. "My other truck, it usually takes like 95, 100 dollars to fill, so it's a lot."

The average cost of a gallon of gas is now $3.67 a gallon, up 18 cents since the beginning of July.

In some cities, like Los Angeles and Chicago, gas is once again over $4 a gallon.

According to AAA, higher prices at the pump could become the new normal.

"The days of a national pump price below $3 is probably a thing of the past," Chris Plaushin, director of federal relations with AAA, told the Senate Energy and Natural Resources Committee Tuesday.

Experts say two key things may be the cause of the current spike. The first is the unrest in Egypt.

"Anytime Egypt gets in trouble, knee jerk reaction is go out and buy some crude oil. And the price of crude has shot up, finally kicking in at the pump," Jeff Macke, with Yahoo Finance, explained.
The second reason is summer vacation season.

Experts say it's simple supply and demand. As more drivers hit the road the need for gas increases, driving up the costs.
But frustrated drivers want to know why they're paying so much for gas when America has oil in its own backyard.
AAA officials told lawmakers at Tuesday's Senate hearing that it's too expensive to move oil from the fields of the Midwest to consumers. It's actually cheaper for companies to ship American oil overseas than it is to keep it here.
Experts say prices aren't likely to settle down before Labor Day, maybe not even until October.

"I'm not happy because I travel an hour to work, but gotta deal with it I guess," one motorist said.

In the meantime, there are several things drivers can do to cut back on their pain at the pump.
The Department of Energy recommends observing the speed limit and clearing extra items from your vehicle.

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Caitlin Burke

Caitlin Burke

CBN News

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