WITN  | Pitt County  | News, Weather, Sports

Lowest 2012 Crude Prices Don't = Lower Gas Prices This Holiday Weekend

By: April Davis/ Dan Yesenosky
By: April Davis/ Dan Yesenosky

At less than $90 a barrel, the price of oil is the lowest it has been all year.
For those looking to travel for Memorial Day weekend, you would think this would mean lower gas prices, but professor Lester Zeager from ECU says the process takes time.

"Crude oil is what we get out of the ground, and there are steps in the refining to get to gasoline. So there's a chain of products there, and the price of crude will effect the price of gasoline but maybe not immediately," said Zeager.

We spoke with several in eastern Carolina about their holiday weekend plans. They all said gas prices are causing them to adapt how they will travel, even though they have dipped in recent weeks.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WITN

275 E. Arlington Blvd. Greenville, NC 27858 252-439-7777
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 153402185