Feeling The Pain At The Pump? Experts Explain Causes For Increase In Gas Prices

Trish Williford,

CHARLOTTE – It’s not even spring yet, and many of us are already feeling the pain  at the pump.

According to Triple A, gas prices have risen more than ten cents in the Carolinas over the past week – the highest since before the pandemic.

Hundreds of WCCB viewers commented our Facebook question asking to give us their opinion for the reasons behind the surge in gas prices.  One person blames President Joe Biden, while another believes the increase is due to the winter storm in Texas.

We asked the experts.

“A big reason for the spike is that the winter storm wreaked havoc on our refineries on the Gulf Coast, and we’re still in recovery mode,” says Tiffany Wright, AAA Carolinas Spokesperson.

“Demand is going up a little faster than people anticipated with the sense that it’s going to continue to increase if the stock market is correct with how the economy is heading,” says Dr. Peter Schwarz, and Economics Professor at UNC Charlotte.

Dr. Schwarz believes the Carolinas could see gas prices jump to three dollars a gallon by this summer.