Sep 12, 2008 11:21 pm US/Eastern
Drivers Fear Ike Will Be Excuse For High Gas Costs
BALTIMORE (WJZ) ―
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There's concern over the damage Ike may do to off-shore oil wells as many worry gas prices may be on their way up again.
David McNew/Getty Images
There's concern over the damage Ike may do to off-shore oil wells as many worry gas prices may be on their way up again.
Dennis Edwards reports Maryland lawmakers are also keeping a close eye over the situation.
Congress is paying close attention to the weather's effect on gasoline prices and the fact that they haven't gone down with the price of a barrel of oil.
One can see the evidence up and down the East Coast. Already, high gasoline prices are climbing. In some cases, it's as much as $5.70 a gallon.
"It costs me almost a $100 to fill up my car, and I don't have an SUV or a truck," said Dorothy Parker from Randallstown.
The industry says its prices could go up 15 to 90 cents a gallon because it's scared Texas oil refineries will be damaged by Hurricane Ike.
"We have the heart of the petro chemical industry in the country as well as about 15 percent of the nation's refinery capacity there and those businesses have had long-standing preparations," said Bill White, mayor of Houston.
But so far, the industry hasn't accounted for why pre-Ike prices haven't declined along with the cost of a barrel of oil--now below $100--the lowest it's been since April.
"We're watching it closely. We're also looking at speculators. Speculators are having a lot to do with the increased costs of gasoline. So yes we are concerned that the consumer is being treated fairly through this process," said Senator Ben Cardin.
With oil prices going down and gasoline prices staying the same, many drivers are feeling as though they're being gouged.
"I think we're talking about $125, $130 a barrel, and now it's dropped down to under a hundred. You would think at least a quarter of that should come down in price. If it was $4, it should be down to $3," said Sid Brawman.
Other drivers like Dorothy Parker don't accept Hurricane Ike as another excuse to run gasoline prices up.
"I'm angry about it because I don't think they care about us," said Parker.
Senator Cardin hopes the high gas prices will do one good thing. He hopes they'll force the country to stay committed to energy independence.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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