Gas prices raise in last 2 weeks
POSTED: Tuesday, January 25, 2011 - 7:36pm
UPDATED: Wednesday, January 26, 2011 - 5:54am
A recent Lundberg Survey of gas prices has shown the national average price for a gallon of regular gas has gone up nearly 3 cents in just 2 weeks to $3.11.
Wade Weathers, president of a local oil and gas exploration company in Tyler says gas prices go up mainly for a couple of reasons. One of them is because economies like China and India are expanding.
He says China sold more cars last year than in the U.S., which creates demand.
Weathers also said the Fed. has raised all commodity prices like gold, copper, etc.
He says it's important for Americans to know why gas prices fluctuate - and that the oil and gas companies are not to blame.
"The world's been against the oil and gas industry for...all of my life - yet we have provided the energy to run the economies of the world and raise the standard of living for the United States all of my life and now the rest of the world is trying to enjoy that same benefit," Weathers said.