Local News

Gas Prices Coming Down

Posted June 8, 2001

— Gasoline reserves are at their highest point in two years and with the reserves up, we can expect prices to go down.

The big reason for the gasoline shortage was a lack of oil refineries to process petroleum. But even though manufacturers have caught up with demand, drivers remain skeptical about how long prices will keep going down.

Almost anyone will tell you high gas prices have squeezed their budgets.

AAA Carolinas says the average price per gallon of regular unleaded in Raleigh has actually gone down 4 cents over the past month and it should go down further. Still, that's not enough for some people.

What makes drivers even more skeptical is what happens at the pumps when the Fourth of July rolls around: gas prices skyrocket along with the fireworks. Some say it's a conspiracy by gasoline distributors. Others just have their suspicions.

"I know that one person or one agency could not hold up all that fuel. I'm sure several heads got together," says one driver.

AAA Carolinas says that's just business, just normal supply and demand. Drivers understand, but say they still feel like victims.

"Oh well, if you got July Fourth coming up, sure it will go up. That's where they make their money," says another. "I think it's going to be like a yo-yo, up and down."

The other good news for consumers is natural gas prices are also dropping because of increased supplies, but since it is summer, that is of limited value to most consumers.

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