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Gas Prices on the Rise

By: Cathleen Moxley Email
By: Cathleen Moxley Email

They're not nearly as high as last summer, but gas prices do seem to be going up.

Dr. Robert Chase with Marietta College's petroleum department says there are several factors that contribute to these higher prices.

One is that OPEC has cut production because of the drop in price per barrel, and another reason is that companies have cut their drilling budgets.

However, Dr. Chase doesn't anticipate prices to reach anywhere close to what we saw last summer.

"I don't see prices getting up to that four dollar a gallon range anytime soon, because the economy is still too weak, and demand is down. People just aren't' going to travel as much as they did last year because of the way the economy is this year," Dr. Chase said.

He also said gas prices could reach about $2.60 by Summer.


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