Pumping pennies

Tuesday, February 19, 2013 - 4:26pm

The national average for gas is around $3.70 a gallon according to AAA which is a .40 increase since last month.

Experts say one of the reasons prices are increasing is due to the high demand of oil for spring travel, in addition to refineries having to use more expensive summer grade oil.

“Prices typically experience an increase in the spring as refineries prepare for the more expensive summer-grade gasoline that is less volatile and burners cleaner than winter-grade gasoline. The process requires a draw down of existing supplies and then sporadic refinery shut-downs for maintenance and re-supply of the new product,” said Donald Redman of AAA.

On the flip side how are gas prices affecting local businesses; a local company owner said “the companies have less money to put back to their company, so they are not able to hire as many employees because they are spending all their money on fuel.”

The average gas price for gasoline in the Ark-La-Tex is around $3.60 a gallon.
 

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