7 days, and 7 price hikes at the pump

By Layron Livingston - bio | email
Posted by Ellen Krafve - bio | email

TYLER, TX (KLTV) - Seven days, and seven price hikes at the pump. In Tyler, gas is now selling at 2.49 a gallon, up nearly 10 cents from this time last week.

The price for a gallon of regular is still down considerably from this time last year. But some experts predict this is just the beginning of the creep up.

"The US manufacturers, from the reports we're reading in the press, are saying that the margins in the refining business are low so they're starting to idle capacity to engage in, 'routine maintenance,'" said Dr. D. Harold Doty, Dean of UT Tyler's College of Business. "That could take the price of gas past $2.50 a gallon."

Tuesday, oil prices closed at about $80 a barrel.

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