Gas prices jump across Triangle

July 17, 2013 8:13:09 PM PDT
Gas prices around the Triangle have skyrocketed over the past week. Now, AAA is warning drivers that gas is not going to be cheaper than $3 a gallon again.

The upward tick at the pump is ticking off customers.

"I mean it does," said Raleigh resident Sydney Barnes. "It makes me mad because that's a big chunk of my paycheck that I have to pay just to get to work and to get home."

Triangle gas prices have jumped 10 cents in the past week according to AAA of the Carolinas, which brought the average up to $3.51 a gallon.

The jump is the result of two key factors according to experts. The first is the unrest in the Middle East, which is creating instability in the global oil markets.

"Any time Egypt gets in trouble, the knee jerk reaction is to go out and buy some crude oil," said Yahoo Finance's Jeff Macke, "and the price of crude has shot up, finally kicking in at the pump."

The second factor is summer vacation season. As more people hit the roads for fun in the sun, the simple concept of supply and demand is starting to kick in.

Click here for the ABC11 Gas Buddy page.

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