Gas Over $2.00 A Gallon Again

Gas prices across eastern Carolina are back above $2.00 a gallon for the first time in over four months.

Triple-A says the average cost for a gallon of gas in Greenville is $2.09. Last month the average price was $1.77.

The roller coaster ride of gas prices begs the question to who controls the cost of gas. ECU economics professor Dr. Nicholas Rupp says the price is based on crude oil prices on wall street. Supply and demand control how much the commodities exchange sells a barrel of oil.

Dr. Rupp says if the price per barrel remains below $50.00 per barrel as it did Monday he expects the price of gas to drop.

However, Dr. Rupp says with summer on the way, the warmer weather may mean higher prices at the pump. "This summer as more consumers drive, we should see maybe an increase in demand for gasoline which should an increase in the price probably about five to ten cents possibly a gallon."

The American Petroleum Institute says 2009 will mark the first time in over 30 years that consumption of crude oil has declined. The API says it expects oil consumption to fall by 1.4 million barrels of oil a day.

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  • by Obama Snake Oil Co Location: Washington on Apr 6, 2009 at 11:52 AM
    Bootsy, I am with you, the only thing you could have added is Europeans pay high tax prices but fewest sales taxes. It was $4 dollars a gallon it it wrecked the economy. The other big mistake was rasing minimum wage. The democrats in both houses championed that at the time gas had gone up. I have a gas hog that rarely gets driven but I have "cars". My point is, you allow the feds to increase taxes, the state taxes and now we are paying close to the taxes of NYC. What, yes. Look at the poplulation and ask yourself, "where is all this money going". Democrats in our state have championed almost all spending projects for projects that make no sense. Washington has a Estuarim that had to have kids bussed to it since the locals were no supporting it. They were even told we really couldn't justify, but they had "left over money"??????
  • by Bootsy C. Location: greenville on Apr 1, 2009 at 10:38 AM
    Hey NonWheeny, you should run for office, I see your think you know alot about what we should worry about instead of gas. Do you have any idea what we spend on foreign lands and never get 1 cent back. It's Billions and Billions and Billions and Billions. If we paid more for gas, you think it would all stay here in the US. Understand politics and policy before you try to find MORE ways for us AMERICANS to get ripped off.
  • by Nonwhiner Location: Greenville on Apr 1, 2009 at 10:03 AM
    So many Americans whine (I am American!!).. You whine about the pump price...but the BIG gas eating hogs are still runnig around, and being bought mind you...alot of thirty day tags lately in Greenville.. And EVERY big gas hog uses 2x more gas than the average family car needs.. this is where you "cost" is..consumption! If Americans did not "have to" have the gas drinking vehilces, less would be used..oh yeah, 50 years at this rate and no gas..whine then.. Wake up America! European countries have been paying over $6 per gallon for YEARS!@! Yes,they have better public transportation..but, it is time America pays $5 per gallon. Besides, it will help pay for "his" economic plans, health care issues, environmental issues, and above all...the bailout money has to come from somewhere.... If your going to whine, cry about the about the crime rate, murders, robberies, rapes, incest cases... against everyday Joe/Sally trying to earn a living and do right...
  • by Dwayne Location: Greenville on Apr 1, 2009 at 08:17 AM
    NC has one of the highest gas taxes in the southeast. Mike and Bev. need more of your money. High gas tax, raising taxes on everything else and bankrupting the medical and education funds. Great jobs Democrats. It is change you can believe in.
  • by Ordnanceman Location: Greenville on Apr 1, 2009 at 06:22 AM
    It is not the Stock Exchange. I just went to DC and as soon as I crossed into VA the price of gas dropped 20 cents a gallon. NC is a rip off when it comes to taxing us!
  • by economywatcher Location: nc on Apr 1, 2009 at 05:54 AM
    I saw where it's $1.95 in Williamston.
  • by Obama Snake Oil Co Location: Washington on Apr 1, 2009 at 05:33 AM
    Well Barlow, the president said no to mileage tax but Bev still has it on her agenda. This is why inspection stickers have gone away. This way, when you bring your car in for inspection, zing, taxes on mileage you drove that year. But its not going to be enough for Bev the democrats in this state. Well, they upped taxes on smokes and drinks, next will be fast food. Well, you commissioned them with this duty. You said I don't like the smell of smoke and drinkers who drive drunk....looking at all drinkers and smokers are inconsiderate, well, everybody thought it was justification, well, coming to your world soon. Also, if you think big oil is over, you don't understand how much money they contributed to the "chosen one". You need to research that a little more. He took money from them, he now owes. With Obama controlling GM, the next car will dwarf the Yugo. Another example of government controlled companies. Wellcome to the USSA and you helped!
  • by anony Location: mous on Mar 31, 2009 at 06:22 PM
    still $1.99 at mike's mini mart in Chocowinity...
  • by S heart Location: Hyde County on Mar 31, 2009 at 04:56 PM
    T-Lover~ "we all gonna die sometime, might as well be for something I believe in" you would be OK dying because you are all worked up about the Oil Companies and the price of gas.?????..I can think of so many different things that are more important to fight for or more fun to do that might cause you to die of a heart attack and I hope u know it is true too.
  • by Anonymous on Mar 31, 2009 at 04:46 PM
    David: "I remember back in the early 90's when gas was $50 per barrel and the price at the pump was around $1.29 pg" David the reason why the price of gallon is up is because of inflation and minimum wage. What was the minimum wage back in the 90's? The most recent minimum wage increase had more to do with the price of oil, food, and everything else than wall street could have. Just remember that the democrats put in this last minimum wage increase during 3-4 dollars a gallon. So when the market finally stabilized, we are still paying more for everything, food and such.

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