Pain At The Pump: Increasing Gas Prices May Not Decrease Any Time Soon
PITTSBURGH (KDKA-TV) – Have you filled your gas tank lately? There is just no relief at the pump these days and it doesn’t look like there will be any time soon. “Americans have cabin fever and we want to get out,” says Patrick De Haan who is the head of Petroleum Analysis at GasBuddy.com. The result is soaring demand and skyrocketing prices at the pump. “The new cheap is the old expensive,” he says. “We’ve been kind of at the same price for last several weeks, kind of stuck on the perch if you will. There’s no ledge, prices aren’t going to sink, and a lot of the reason for that is that so many Americans are hitting the road for the summer.” De Haan admits the prognosis is not encouraging. “We may eventually go up again in the weeks ahead,” he adds. “Oil prices are dancing around about $74 a barrel, that’s the highest level since 2018. Gas price is well over $3 and we may not go back under $3 until fall and that’s still an if as well.” “If,” he says, beca...