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Gasoline Prices Hit Record High

Posted on: Tuesday, 9 August 2005, 18:01 CDT

Aug. 9--Oklahoma City gasoline prices hit a record high Monday -- a time when prices traditionally decline.

Drivers awoke to find the metro area averaging $2.192 per gallon for self-serve regular. The nationwide average also was a record high at $2.339 a gallon.

Chuck Mai, AAA Oklahoma spokesman, said the U.S. government's announcement of closing the U.S. embassy in Saudi Arabia for two days because of terrorism concerns, coupled with Iran's pursuit of weapons-grade nuclear fuel, has caused prices nationwide to soar.

"Those two have thrown a monkey wrench in the confidence we had not too long ago," Mai said.

He said refinery problems, such as Valero in Ardmore cutting back for two weeks because of a down process unit, also has caused the prices to increase.

"The supply side of things has been strained," Mai said.

Abby Barron also has been strained.

Barron, gassing up her sport utility vehicle at an Oklahoma City station, said she was shocked to see "$2.26" emblazoned on the station's sign. Her pit-stop to throw a few bucks into her silver vehicle turned into her digging for silver coins.

"I think it's ridiculous because I'm about to pay with quarters," she said. "I'm probably going to put in a whole $4."

The prices surprised gasoline station employees as well -- forcing their consumer side to react.

"I was passing by before I came in and I saw $2.25 and I was like, 'Dang, what happened last night?'" said Tiffany Wakefield, an employee at a station at Northwest Expressway and MacArthur Boulevard.

Wakefield said customers questioned her about the prices, but, like them, she was in the dark.

Mai said although the balance between supply and demand is delicate worldwide, he believes the prices soon will decrease.

"I do see some reason for optimism," he said. "The summer driving season is behind us."

The driving season may be over, but the frustration still is going.

"I just put gas in my car, and my gas light didn't even turn off," Barron said.

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Copyright (c) 2005, The Daily Oklahoman

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Source: The Daily Oklahoman

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