Gas Prices Remain High Despite Drop In Oil Prices
PITTSBURGH (KDKA) - Even though U.S. oil prices dropped on Tuesday, many drivers are feeling frustrated because gas prices remain high.
The cost of oil is reportedly down because Russia indicated that it will dial back its assaults in parts of Ukraine and because of a COVID lockdown in China.
In an exclusive interview with KDKA, KDKA-TV asked U.S. Secretary of Energy Jennifer Granholm about changes at the pump.
"It's called rockets and feathers, meaning when the price goes up, price per barrel, that means your gas stations' prices go up like a rocket. When the price goes down per barrel, the gas station prices come down like a feather. And why is that? There is about a four-week lag between the time the oil price drops and the gas station price drops," Granholm said. "The barrel is not refined yet, so it has to go through a refinery. That refinery process has to happen, then it has to go through pipelines, to your local gas stations or a truck to get it to your local station."
KDKA also asked her, when will Americans see the price at the pump going down to what it was before the Russia-Ukraine war?
"Tell me when this is going to end, and then I'll tell you that the prices will come down. As long as this war is going on and the Russian supply is constrained, the prices will remain high," Secretary Granholm.
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Many Pittsburgh drivers aren't feeling optimistic about future gas prices. And because of that, they are changing how often they drive their vehicles.
"It's expensive. I have an SUV. If I let my car get down to empty, I'm looking $70 to $75 to fill up. So, definitely cutting back on the joy rides for sure. It is what it is, I gotta drive. I gotta get to work," Greenfield resident Albert Zupancic said before filling his gas tank at the Amoco Gas station in Pittsburgh's Greenfield neighborhood on Tuesday.
Zupancic said he doesn't drive as much as he used to and only drives to work now. He already canceled his family summer trip with his wife and kids.
"Because of gas, we are as of right now. We are definitely not taking our family vacation this year. It will be more or less a trip to the lake," Zupancic said.
Other drivers told KDKA similar stories of frustration.
Greenfield resident Don Holmes said he only drives to work and the grocery store. He started exercising at home some days, so he doesn't drive to the gym as much as he used to.
"The gas prices are outrageous and the U.S. is the largest oil producer in the world. So, it just seems like because of the system, which allows the oil executives to stockpile and hold back, really messes up American people and their opportunities to get out and be involved," said Holmes.
Gas prices in our area remain stable. According to AAA, the average price for regular gas in Pennsylvania is $4.32 cents per gallon. The average cost for diesel fuel is $5.48 a gallon.
