GASOLINE PRICES SOARING HIGHER THAN LAST SUMMER

(03/20/2004)

While natural gas, drinking water, insurance premiums and health care become more un-affordable to average income families - stand back this summer for higher than ever gasoline prices. Marvin Gray with the West Virginia Gasoline Dealers Association says we haven't seen the worst of the gasoline prices yet, who said "We could be looking at record prices real quick." Gray says there are a host of factors that impact the price of gasoline in West Virginia and across the United States. Department of Energy projections indicate the average price of gasoline by April will be $1.823 a gallon and $1.82 in May. Gray says that would be a huge jump over the highest average national price. "Our highest price so far was last year on August 25th, when the average price was $1.74." He predicts the price will jump to $1.82 a gallon. He says OPEC is cutting production and Americans are consuming gasoline at a historically high rate. He says gasoline rates are determined by a very fragile system that can be impacted by just about any event, no matter how minor in nature.

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