Wednesday, March 12, 2008

Gas Prices


Wow! Talk about sticker shock. Gas prices are outrageous. I never thought I'd see $3.49 a gallon. Remember last year? Prices were around $2.50 a gallon and we were all outraged. We talked to Ag Economist Wally Tyner about fuel prices. He said prices could be $3.75 a gallon by summer. Yikes! Tyner said the recent jump is due to an increase in the price of crude oil and the change from winter blend gasoline to summer blends, causing a decrease in the supply.

The price of getting to work is becoming an issue for many people who are commuting to Frankfort, Indianapolis and other areas. Jeff has a friend that canceled a trip to Disney in Florida because of the increase in gas. Other people we talked to are trying to cut back in other areas of their budget. If you have a gas story to share, feel free to email me or the newsroom.