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Weak Dollar, Fire Drive Up Gas Prices

by
Pumping Gas
Pumping Gas

KALAMAZOO (WKZO) -- Gas prices have spiked from about $2.80 a gallon when motorists drove to work Wednesday, to $2.95 at many stations Thursday morning.

Patrick DeHaan with GasBuddy.com blames it on the money manipulators and the falling price of the dollar.

"We'd seen an increase in wholesale prices earlier this week that was tied to the weaker dollar and concerns about the Federal Reserve and what their actions might mean for gas prices," DeHaan said.

He believes prices could go up even further yet this week, for a completely different reason.

'There was a small refinery fire at a facility in Lamont, Illinois, and with those refineries in Detroit and Toledo already undergoing maintenance, that fire has pressured up wholesale prices just in the midwest," DeHaan said. 

He believes $3 per gallon prices are possible in the coming days.

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