Business & Tech
Why Have Gas Prices Jumped So High?
The perfect storm of Midwest pipeline and refinery problems have sent prices at the pump well past the $4 mark in Frankfort, according to reports. How will this affect your home budget?
The rupture and shutdown of a Wisconsin pipeline, as well as issues at Illinois and Indiana refineries have caused state gas prices to soar, the Associated Press reports.
Those prices, which were as high as $4.15 in as of Saturday, Aug. 4, are the highest in Great Lakes region, and the state average jumped from $3.61 a week ago to $4.05 on Friday, the report stated. That jump also was the highest in the region.
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The price increase, however, should be temporary, with prices dropping in the next few weeks as the refinery problems are fixed, according to the report.
Earlier last week, . Most commenters expressed dissatisfaction with state gas taxes and fees, while others said there wasn't much people could do.
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But when the cost to fill up a tank reaches the $4 level and beyond—even for a couple weeks—something has to give, and it's probably going to be residents' personal budgets. Will these prices affect your spending? Will you drive less? Or will you cut out something else for a short time?
Share your thoughts and opinions in this article's comments section.
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