Gas Prices Soar
July 28, 2016 at 4:25 p.m.
Multiple gas stations in Warsaw raised prices to as much as $3.29 per gallon of regular unleaded today, an 18 percent increase from last night's prices for certain companies.
Regular unleaded reportedly was selling for $3.49 per gallon in Syracuse.
According to employees and station owners, prices are expected to possibly increase more today, regardless of whether the prices went up this morning or stayed at current levels from last night.
The price spike is said to be caused by hurricane damage to the southern gulf coastline in and around New Orleans, which supplied the Midwest with 25 percent of its oil, according to petroleum industry statistics.
"It's the straw that broke the camel's back," a gas station employee, who wanted to remain anonymous, said. "Everything has been running at full capacity, and after losing those (New Orleans) rigs, it's become a simple supply and demand problem."
An owner of a different station said his prices increased substantially, but the price itself did not reflect profits made per gallon. After fees from sales tax and credit cards, only 12 cents is made per gallon, the owner said.
"This situation is horrible for everyone, and gas stations are being hurt by the prices just as much as the rest of the town," he said.
Consumers are feeling the pinch in the increase as well, and some customers think the increase is unfair.
"I think this is nuts," one gas station customer said. "I don't think they need to be charging people this much. I know they say the storm is the reason for the increases, but, before that, it was always the smallest things raising the price."
Others believe the prices are finally reflecting the current economic conditions.
"Compared to inflation, gas prices are finally beginning to catch up. Over the years, costs never met the increase from factors that affected everything else," Warsaw resident Brian Elliott said after spending more than $200 for gas at a station for various vehicles. "Prices are getting pretty high right now though." [[In-content Ad]]
Multiple gas stations in Warsaw raised prices to as much as $3.29 per gallon of regular unleaded today, an 18 percent increase from last night's prices for certain companies.
Regular unleaded reportedly was selling for $3.49 per gallon in Syracuse.
According to employees and station owners, prices are expected to possibly increase more today, regardless of whether the prices went up this morning or stayed at current levels from last night.
The price spike is said to be caused by hurricane damage to the southern gulf coastline in and around New Orleans, which supplied the Midwest with 25 percent of its oil, according to petroleum industry statistics.
"It's the straw that broke the camel's back," a gas station employee, who wanted to remain anonymous, said. "Everything has been running at full capacity, and after losing those (New Orleans) rigs, it's become a simple supply and demand problem."
An owner of a different station said his prices increased substantially, but the price itself did not reflect profits made per gallon. After fees from sales tax and credit cards, only 12 cents is made per gallon, the owner said.
"This situation is horrible for everyone, and gas stations are being hurt by the prices just as much as the rest of the town," he said.
Consumers are feeling the pinch in the increase as well, and some customers think the increase is unfair.
"I think this is nuts," one gas station customer said. "I don't think they need to be charging people this much. I know they say the storm is the reason for the increases, but, before that, it was always the smallest things raising the price."
Others believe the prices are finally reflecting the current economic conditions.
"Compared to inflation, gas prices are finally beginning to catch up. Over the years, costs never met the increase from factors that affected everything else," Warsaw resident Brian Elliott said after spending more than $200 for gas at a station for various vehicles. "Prices are getting pretty high right now though." [[In-content Ad]]