Gas Craziness: People flock to pumps for cheap fuel

FORT WAYNE, Ind. (WANE) – Filling up for the weekend is always a bit pricier, but this weekend a fill up could put a bigger dent in people’s wallets. Around Fort Wayne, gas prices jumped about 40 cents overnight. And, the stations that had lower prices for most of the day Friday saw long lines of people waiting to get gas.

“They went up to 3.95 a gallon and I saw this at $3.57, so I thought I better get it here,” said John Shaw who waited in line for gas at the Kroger Fuel Center on West State Blvd.

Drivers with a normal size 12 gallon tank car that takes regular gas were saving around $5 by coming to the West State Kroger instead of any other gas station in the city where gas was $3.95 a gallon. However, to save that $5, people waited 10 to 15 minutes just to get to a pump. Most people said they found out about the cheap gas at the station by checking Gas Buddy.

“I figured a few people knew about it, but I didn’t know the whole town knew about it,” Jerry Etnier, who also waited in line, said.

An analyst with GasBuddy.com predicted that increased violence in Iraq could trigger a jump in gas prices as early as Friday morning and it appears that is happening. Data provided by GasBuddy.com on wane.com’s Gas Gauge indicates some stations have hiked the price for a gallon of regular unleaded to just under $4.00 a gallon.

“I believe that stations will likely begin to increase prices very soon, perhaps to over $4 a gallon in some areas on fears of new violence in Iraq slowing oil production and exports,” said Patrick DeHaan, Senior Petroleum Analyst of GasBuddy.com.

“The violence has caused oil prices to close at their highest level since last September, and could lead to further price spikes if the violence escalates or spreads,” DeHaan said. “A spike in crude oil prices also put upward pressure on wholesale gasoline prices, which rose 6-9 cents per gallon across the country, and sets the stage to cause a spike in gasoline prices that looks ripe to hit pumps in the next 24 hours.”

Some of the drivers waiting in line said the increase in prices is causing them seriously considering alternate modes of transportation such as bike riding, especially since the weather is nicer.

 

 

blog comments powered by Disqus