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Gas Prices Spike PDF Print
Written by Steve Frank   
Tuesday, 03 May 2011 06:04

There was a bit of economic reality over the weekend—gas prices  soared.  Our BP barometer shows gas up a dime a gallon at $379.9, with prices over $3.80 common around the area—even higher in the Foothills and Piedmont.  With gas prices higher by almost $1 a gallon compared to a year ago, and North Carolina Sen. Kay Hagan says she hears about the high price of gas everywhere she goes in the state.

"[The cost of gas] is incredibly important to our working families, our seniors, and especially our small business owners here in North Carolina." In response, Hagan sent a letter to the White House urging the Oil and Gas Price Fraud Working Group to report their recommendations to Congress before the July 4th holiday.
"If there is some action that we in Congress can take, we have time to do that before the July Fourth holiday when so many Americans hit the road." Part of the problem regarding the skyrocketing cost for a gallon of fuel is the speculation of future oil prices on Wall Street.


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