You’ve Got Questions, We’ve Got Answers: Why We’re Feeling Pain At The Pump
CHARLOTTE, N.C. – Gas prices are on the rise. In fact, AAA says they are 10 cents higher than last week. The question is why? Many of you have asked on the official WCCB Charlotte Facebook page, and also offered up your own explanations. Robbie wrote, “Gas prices are always higher with a Democrat POTUS. This is just the beginning. Don’t be surprised when gas prices near $4 per gallon.” And Sondra wrote, “Hahaha…you’re joking right? Why don’t you tell us WCCB why they’re rising? I think you know…”
Why, yes Sondra, we do know. WCCB spoke with our local AAA to get to the bottom of this issue. There are several factors that go into it. One is the winter storms, especially along the Gulf Coast, that the economy is still recovering from. Also, more people are getting more comfortable traveling, which increases the demand for fuel. Tiffany Wright with AAA says, “What we have is a tightening of supply you have that with the fact that the world is opening up so you have an increase in demand.” Wright also says she believes we will not see low gas prices in the immediate future.
We also asked Dr. Peter Schwarz, an economics professor at UNC Charlotte, for his thoughts on what’s to come. He says, “From what I’ve seen, nationwide, they’re up to $2.77 a gallon now, little less, here in North Carolina, so they don’t have that far to go. We’re only in March, so April, May, on into June, we could certainly be seeing three dollars a gallon or higher.”
Our question of the night: are you feeling pain at the pump?
This episode’s panel features:
WCCB TV’s Morgan Fogarty
WCCB News @ Ten anchor Drew Bollea
WCCB Meteorologist Kaitlin Wright