News

What's To Blame For Near Record Gas Prices?

Saturday, July 21, 2007

Record failures at American refineries are a big part of the reason for near-record gas prices this summer.

A plant explosion in the Texas Panhandle is among the dozens of fires, power failures, leaks, spills, and breakdowns cutting down on production.

Analysts say it's just like having an invisible hurricane and the troubles are responsible for pushing up gas prices by 50 cents a gallon.

The average price per gallon in Fresno was at $3.15 Saturday. That's still 30 cents off the record high set this May.

(Copyright ©2010 KFSN-TV/DT. All Rights Reserved.)

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