Local expert predicts higher gas prices

INDIANAPOLIS — Gas prices have jumped about 10% this month, making it the worst February ever, and one local expert said prices are only going to get worse.

“It’s painful,” said Julie Jones who lives just north of Indianapolis. In fact, she downsized and got a smaller car so she could save gas money. But she has been finding herself still thinking ahead.

“It does force me to kinda think before I go and drive places,” she explained. “Do I need to go here? Can I do all my stops one day so I don’t have to drive out the next day?”

Some energy experts predict relief is on the way as work on refineries wrap up and supply increases. However one local expert called that prediction “premature.”

University of Indianapolis business associate professor Dr. Matthew Will said prices will depend on an economic report due out this Friday.

“There’s some GDP figures that will be out and if the GDP is up and if they revise the last quarter, then that could mean prices could actually go up, because… an expanding economy causes a demand pressure that pulls up the price of gasoline.”

He also warned that if the country keeps hitting records, summer is going to hurt much worse.

“Our summer record is about $4.50 a gallon so if we keep hitting highs, we might be over $4.50 a gallon.”

5 comments

  • Tom

    They are doing nothing but stealing. Government needs to step in and stop this, we'll be back in a deep recession.

  • ClanSmokeJaguar

    Tom? WTF do you think 0bama is going to do?

    I find it rich that during the 2008 elections democrats and the media (one and the same) blamed Bush for the gas prices.

    Yet, 0bama has some slimy weasel in his cabinet who is on record as saying in order to get people off petroleum, the price has to go up. In fact, didn't he say upwards of $12/gallon. He believes only then will people embrace rat trap cars and electric scooters that barely get you from point A to point B.

    Incredibly, no one mentions this askhole.

    Why?

  • Carl Picman

    Most of it is due to Obama's indifference on petroleum use. He is more toward alternative energy sources. There are many tools he can utilize to help the "working poor", (those that make less than 100,000.00 a year approx 75% of the population) and help bring relief to us in the form of management of national resources. Maybe cut down a little on their bi-weekly vacations and glad hand trips.

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