Record Gas Prices
January 3, 2008, 6:10 PM
Brace yourself! Not for another cold snap, but for a cold slap in the face of rising gas prices. Crude oil hit the $100 dollar a barrel mark for the first time in history and experts say we could be looking at $4 gas by next month. Motorists we talked with say it's time to put the brakes on rising fuel prices.
Not everything that goes up comes down. Gas prices for instance continue to climb and so are people's frustrations with how much they are paying at the pump.
"I figured something like that was going to happen pretty soon. Don't have any choices, I'd like to see some way to get it cut down," Joe Toresdahl said,
But that's not likely to happen anytime soon. This week the government reported a larger-than-expected decline in oil inventories and an unexpected rise in heating oil supplies, which pushed a barrel of crude oil to a new all time high.
"I think they are out of line. They're going to have to do something to bring them down, it's ridiculous," said Gene Farrell.
The President has refused to tap into U.S. oil reserves to offer any relief to gas guzzling consumers. And with prices hovering around $3 a gallon, people fear what's next.
"I go back and forth to Rapid and I can't really afford that," said a young woman.
If prices keep climbing, motorists say they'll closely watch where they go and what they do this winter.
"I use to take quite a few trips out to the river and go fishing, but I think it's going to be limited with high prices," said Farrell.
While crude oil prices hit $100 dollars earlier in the day, they settled at $99.18 per barrel.
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