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.

You must be logged in to post comments.

Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by butch Location: parkersburg on Mar 29, 2009 at 04:55 AM
    typical greedy oil companies, the price of oil is going down, yet they continue to raise the price of gas.. nothing but greed. if even one of those oil ceo's take home millions of dollars they should go to jail.
  • by Cathy Location: Parkersburg on Mar 26, 2009 at 06:54 AM
    Prices are no where near this high in Wetzel County.
  • by April Location: Parkersburg on Mar 26, 2009 at 06:50 AM
    People would travel a lot more if they didn't have to worry about gas prices. Money could be spent on other things such as hotel stays, tourist shops, clothes, etc. In this area people drive and gas is in high demand. It's a joke to cut production.
  • by Anonymous on Mar 26, 2009 at 05:11 AM
    That is exactly what a monopoly does. Econ 101.
  • by ken Location: parkersburg on Mar 26, 2009 at 04:25 AM
    Opec cut the production when the prices of a barrel of oil were dropping and causing them to lose their profits. The believe that if they produce very little oil, that if our demand does go up, then their profits go back up. The only reason they really cut production is to ruin this country in the ground because we are way to dependent on their oil. This is the very reason why we need to do our own drilling and not be so dependent on foreign countries for oil. Even Obama said last year while running for president that he didnt mind the high cost of gasoline but didn't like that it raised up to over $4 a gallon so fast. Who will people blame when gas goes back up over $3 a gal in the next few months? I bet you still want to blame Bush. When are people going to wake up and realize that this country is headed straight down the path to demize?
  • by greg Location: belpre on Mar 25, 2009 at 08:16 PM
    They are not producing as much to raise the price.
  • by Anonymous on Mar 25, 2009 at 06:42 PM
    what is up with OPEC do they think just because price per barrel is down that we dont need as much fuel? NO! So why stop producing?
TheNewsCenter One Television Plaza Parkersburg, WV. 26101 304-485-4588
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 41858457 -
Gray Television, Inc.