Rising gas prices cause frustration as people head to the pumps

Gas prices started to rise in Terre Haute Monday and have jumped nearly 40 cents per gallon. These rising prices have several people in the Wabash Valley feeling the pain in their wallets.

Posted: Sep 17, 2019 10:02 PM
Updated: Sep 18, 2019 1:29 PM

TERRE HAUTE, Ind. (WTHI) - Tensions between the US and Iran continue to rise.

An attack on Saudi Arabian oil facilities has US officials searching for who is responsible and how they should respond.

Its caused oil prices to rise, which is affecting people here at home filling their gas tanks.

In Terre Haute, gas prices started to rise Monday and jumped nearly 40 cents per gallon by last night.

These rising costs have several people frustrated they're paying more as they head to the pumps.

Kara Payne is a student at Indiana State University.

On weekends, she travels two hours home to see family, but the recent rising gas prices may change that.

"We could be using it for things like groceries and stuff like that, rather than having to pay more for gas and going home and stuff. Then it just makes you really not want to go home, because you don't have the money to pay for the gas," said Payne.

Many are feeling the pain in their wallets.

Experts said the attacks in Saudi Arabia are causing a domino effect.

That's why you're seeing higher gas prices at least for now.

"Running to the pumps at this point would actually be counterproductive to your own interests. This is a temporary phenomenon and presuming there is no more attacks or no more successful attacks, it will stay a temporary phenomenon," said Robert Guell, Professor of Economics at ISU.

Guell said it's important people understand that things like this are expected, but to just be patient.

"It can impact anybody anywhere in the world, because oil is a global commodity, so it's not just going to spike in one place. It is going to move all over. Which means you're effected in Terre Haute just as much as if you were in Europe," said Guell.

With the back and forth prices in gas, Payne said she's always on the lookout for the best deal.

"Whenever we go and get gas we usually drive up and down the strip and see which ones cheaper, rather than just stopping at the first place that we can go and kind of weighing our options," said Payne.

Guell said the price of crude oil has gone down and said drivers should be patient while waiting for some relief.

Saudi Arabia's energy minister said 50 percent of the production cut by the attack on its oil processing plant has been restored.

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