Gas prices steadily on the rise - KLTV.com - Tyler, Longview, Jacksonville |ETX News

Gas prices steadily on the rise

WASHINGTON D.C. (KLTV) Economists believe that the nation is coming out of the recession, but unfortunately one indicator of the economic recovery is not a good sign: rising gas prices.

Surging gas prices are beginning to drive some motorists off the road.

For the first time in more than two years, the national average for a regular gallon of gas jumped over the three dollar mark, and it's still rising.

Those rising gas prices could put the brakes on economic growth.

That's up more than 13% from one year ago and 76% higher than two years ago.

Former Shell Oil President John Hofmeister expects prices to rise steadily to five dollars a gallon.

"It like we're watching a hurricane coming at us and not doing anything about it.  Crude oil prices is the hurricane," Hofmeister states.

Edmunds.com Executive Editor Paul Seredynski says "It's almost like Prozac for the country when gas prices are low. People tend to feel better about the economy. They feel more mobile. They feel they have more additional income to spend on other things."

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