Why are gas prices so high? - Fox 28: South Bend, Elkhart IN News, Weather, Sports

Why are gas prices so high?

Why are gas prices so high?

Posted:
 "It's ridiculous ya know, people out here working every day, let alone have to pay bills and support a family and then they have to go to the gas pump and pay $4 a gallon?  It's just outrageous," said Jonathan Wenger at a gas station in South Bend.

That's the reaction from most people in Michiana as we continue to pay sky high gas prices.
   
Right now here in Indiana, we are paying some of the highest gas prices in the Nation.

We've been trying to find out why.  So we went to one of the experts, Notre Dame Economics Professor Thomas Gresik.

He said there's two reasons behind the price jump.  First, in early May, a pipeline from Canada had mechanical issues so it was shut down for four days so refineries here weren't able to get as much oil as they need.

The second reason, in April, new pipelines opened up that transfer crude oil to the gulf. "Up to that point the Midwest had easy access to cheap oil because there was no way to get the oil outside the Midwest.  What we're seeing now is higher prices in the Midwest because that oil can now go to other parts of the country," said Gresik.

Gresik said we should see a decline in gas prices but it'll take longer than we're used to seeing this time of year.
   

  • Most Popular StoriesMost Popular StoriesMore>>

  • UPDATE: Mother charged in connection with death of 11-month-old son

    UPDATE: Mother charged in connection with death of 11-month-old son

    UPDATE: St. Joseph County Coroner Chuck Hurley says the cause of death of Micahyah Crocket was brain swelling due to lack of oxygen. The manner of death has been ruled to be a homicide.More >>
    UPDATE: St. Joseph County Coroner Chuck Hurley says the cause of death of Micahyah Crocket was brain swelling due to lack of oxygen. The manner of death has been ruled to be a homicide.More >>
  • Coroner: Body found in Elkhart County not connected to recent missing persons case

    Coroner: Body found in Elkhart County not connected to recent missing persons case

    Elkhart County Sheriff's Depart say a body was found on the 67,000 block of County Road 23 near New Paris.Police say the body was found around 1:40 p.m.The gender of the body has not been announced.FOX28 has a heading to the scene and will update as soon as we get more information.More >>
    Elkhart County Sheriff's Depart say a body was found on the 67,000 block of County Road 23 near New Paris.Police say the body was found around 1:40 p.m.The gender of the body has not been announced.FOX28 has a heading to the scene and will update as soon as we get more information.More >>
  • FOX28 remembers Stephanie Santos

    FOX28 remembers Stephanie Santos

    She was part of the FOX28 Family for more than two decades. Stephanie Santos passed away Saturday. She was 56-years-old. Santos was the Executive Director of the Muscular Dystrophy Association for the past 25 years and was recently diagnosed with ovarian cancer. She was the heart and soul behind the MDA telethon. From Bill Darwin, to Bobby Rivers to Dean Huppert... she was the person behind the scenes who ran the show. She always had her headphones on making sure everything was just right, an...More >>
    She was part of the FOX28 Family for more than two decades. Stephanie Santos passed away Saturday. She was 56-years-old. Santos was the Executive Director of the Muscular Dystrophy Association for the past 25 years and was recently diagnosed with ovarian cancer. She was the heart and soul behind the MDA telethon. From Bill Darwin, to Bobby Rivers to Dean Huppert... she was the person behind the scenes who ran the show. She always had her headphones on making sure everything was just right, an...More >>
Powered by WorldNow

Fox 28

WSJV-TV FOX 28
58096 County Road 7, South
Elkhart, IN 46517

Switchboard: 574.679.9758
News Phone: 574.679.4545
Station Fax: 574.294.1267
Email: fox28news@fox28.com

All content ©Copyright 2000 - 2014 WorldNow and WSJV. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Heather Stewart at (574) 343-5310. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.