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Gas Prices Climbing Fast

By Bill O'Neil

It may only be the start--the word from experts--amid the sticker shock you might be feeling at the gas pump today. 

According to, the average price per gallon of regular unleaded in San Antonio is up 12-cents over the past week. Senior Analyst Gregg Laskoski told 550 KTSA News part of that is the continuing tension in Egypt. 

"Even though Egypt isn't a major oil supplier--the Suez Canal is responsible for the safe transport of about three-million barrels per day of crude oil that has to get in to the European markets" Laksoki said. 

While Egypt is a big piece of the equation, Laskoski said there's more to it. as well.

"July is historically when we see the greatest consumer demand" Laskoski said--pointing to a recent declining trend in domestic oil reserves. Forecasts of a continuing to imporve U.S. economy are playing a role as well. 

"A lot of people are betting that it (the U.S. economy) will (continue to improve) and that's one of the things that's pushing crude oil prices higher" Laskoski said.   

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Locations : San Antonio
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