Another Gas Price Increase

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Michael Gibson

Story Created: May 21, 2008 at 6:56 PM CDT

Story Updated: May 21, 2008 at 6:56 PM CDT

(5-21-08)
The price of gasoline in Corpus Christi went from 3.69 to 3.79 on Wednesday afternoon. Another ten cent increase which has motorists once again wondering how much higher the price will go. Many are wondering why are national lawmakers are doing nothing to stop the out of control pricing. A Senate Committee did call Oil Executives onto the carpet and asked them what was going on. They basically said it's a supply and demand issue which is driving up prices. The Senators didn't buy the argument as several attacked the oil executives for their inaction during this gas price crisis.

Michael Gibson 3 News

Thursday, May 22 at 3:42 PM Rick wrote ...

I don't see there is a supply and demand issue and Oil execs say it's expensive to refine, if they are making 60 billion in profits. Profits, thats after paying employees, machinery, and any other expense they have. So I don't see why they can't just eat a small price of the oil price.

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Wednesday, May 21 at 9:24 PM Jimmy wrote ...

Here's the thing...people are not gonna give up gas for a day to get the attention of oil execs...even if they did, it wouldnt last for more than a day. It just cant happen. Car dealerships are losing sals on SUVs,,,I saw one today where they are knocking off $10K on new SUVs. Somethings gotta give...If they could lower fuel prices to lets say $1.75 per gallon for a one month period, it would BOOST the economy. In other words compromise...give us a break once in a while GEEESHHH

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Wednesday, May 21 at 8:06 PM Cynthia McAllister wrote ...

We didn't hear people complaining when gas prices were $.99 for the longest time. Let's complain about county taxes and nothing getting done to attract tourist. Let's complain about the price of houses and not making the American dream possible. Oil companies lose money when gas is high because people don't purchase as much.

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