Prices soar at the pump - WALB.com, Albany News, Weather, Sports

Prices soar at the pump

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By Cade Fowler - bio | email

ALBANY, GA (WALB) –Your pain at the pump is probably about to get worse.

Gas prices are already high and some experts warn unrest in the middle east could cause them to jump to $4.00 a gallon.

Several oil companies pulled their workers out of Libya Monday because violent protests there.

Oil prices jumped Monday $1.87  to $88.00 dollars a barrel. The price surge was brought on amid investor concerns over protests in Libya and the increasingly violent government response.

Over the past two weeks national gas prices have gone up 5 cents and consumers are feeling the hurt at the pump.

"Where is the stopping point? This is getting to be ridiculous and I think we're going to have to start considering alternative fuel sources in this country. Seriously. Because if not, we're not going to be able to make enough money to fuel our vehicles," said driver Will Thomas.

The U.S. imports very little oil from Libya but the foreign market will create the strain and push prices up even higher.

Nationwide we are paying nearly 50 cents more for a gallon of gas now than we were in late September. On Friday they hit a 28 month high.

According to AAA, current average in Albany is $3.09 a gallon. That 53 cents higher than this time last year.

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