Gas prices emptying pocketbooks - WALB.com, Albany News, Weather, Sports

Gas prices emptying pocketbooks

February 5, 2003

Albany - Gas prices jumped around $.05 a gallon overnight across the nation. Here in Albany, the price of regular unleaded gasoline ranged from $1.36 to $1.49 a gallon.

Many stores raised prices almost $.10 overnight. And, drivers quickly noticed the difference. "Over the last two months, the cost of gas has steadily increased, " said driver Kathleen McNeill of Americus.

Nationwide the price of regular unleaded gasoline has jumped $.05 and averages $1.53 per gallon. That's up $.37 from a year ago.

The price of gasoline depends largely upon the cost of crude oil. The possibility of war with Iraq ignites fear of supply disruptions with the Middle East, causing crude oil cost to skyrocket.

"I live on a tight budget. If gas cost more, I have to spend less on other necessities," said McNeill. This latest hike in gas prices in the biggest weekly increase in ten months. And, the prices are likely to go up even higher.

Albany gas prices are still lower than the national average. San Francisco has the most expense gas prices at $1.80 a gallon.

Posted at 4:40PM by kathryn.murchison@walb.com