Gas prices rising faster than usual
Charlotte-area gas prices jumped more than 30 cents a gallon in the last month, leading many drivers to fear more record high prices like last summer. WFAE's Julie Rose reports: A month ago gas in Charlotte was running $2 a gallon on average. Today it's at $2.37. Tom Crosby of Triple AAA Carolinas says prices usually climb this time of year in anticipation of summer driving season, but it's unusual to see such a rapid rise. "When it's going up two or three cents a day, that's pretty significant," says Crosby. "Normally it goes up maybe a penny or 9/10ths of a cent, so it's more a price creep than we've seen this year." Crosby says oil refineries are boosting prices quickly to make up for several months during which the recession has forced them make less fuel. Summer drive season is an important revenue source for gas companies. However, Crosby says Charlotte-area gas prices are unlikely to go much higher than $2.75 this summer. That would still be a dollar cheaper than last year's record average of $4.11 for a gallon of regular. That price was a combination of speculation in the oil market and hurricane damage to Gulf Coast refineries.