Gas Prices Could be on the Rise - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Gas Prices Could be on the Rise

(WFLX) - Gas price are going up--and drivers are noticing.

Just driving around you see prices have changed and I'm not happy about it," said Courtney Poston who was filing up at Community Chevron. We asked former commodities trader Chris Martorano why prices are rising. He along with other experts say it's geopolitical tensions such as the Mideast conflict and Russia's energy dispute with Ukraine.

"The first place everybody goes when we have these type of tensions is to cut productions in oil and a cut in oil prices," said Chris Martorano who also owns Community Chevron. And that's just what's happening.

OPEC says they're cutting oil production by 10 percent. Meantime consumption here in the U-S is down. "I think it comes to a point where people just don't have the money--you can only go to the credit card, the debt card, then cash for a certain amount of time," said Martorano.

Bottom line--despite tough times, experts say if global tensions don't come to a resolution soon, gas could once again hit the dreadful three dollar mark by summer.

Powered by Frankly

1100 Banyan Blvd.
West Palm Beach, FL 33401

FCC Public File
EEO Report
Closed Captioning

All content © Copyright 2000 - 2018 Raycom Media. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.