SOUTH BEND -- Gasoline prices in our area jumped nearly 30 cents Tuesday, and drivers are wondering just how high they will go. As prices went up at some stations, long lines formed at others with drivers hoping to save as much money as they could.
"I had a half tank, and it's gonna go up, so I thought I'd save a few bucks," said Tom Stanton as he filled up his car in South Bend.
Tuesday morning, gas prices in South Bend jumped from $3.08 to $3.36. The increase was just another part of the roller-coaster gas prices have been on recently. Prices were below $3 in some areas last week.
Much of the blame for the recent price swings is aimed at the turmoil in the Middle East. In particular Libya, which is a top 20 oil producing country, is in the midst of a political uprising.
"I think if the unrest continues, we'll see much higher prices," said Tom Gresik, economics professor at the University of Notre Dame.
Gresik says it's hard to plan for the impact the trouble in Libya and other countries will have on gas prices.
"This is not a planning issue,” said Gresik. “This is a hang on to your hat and see what happens in the world."
"I had a half tank, and it's gonna go up, so I thought I'd save a few bucks," said Tom Stanton as he filled up his car in South Bend.
Tuesday morning, gas prices in South Bend jumped from $3.08 to $3.36. The increase was just another part of the roller-coaster gas prices have been on recently. Prices were below $3 in some areas last week.
Much of the blame for the recent price swings is aimed at the turmoil in the Middle East. In particular Libya, which is a top 20 oil producing country, is in the midst of a political uprising.
"I think if the unrest continues, we'll see much higher prices," said Tom Gresik, economics professor at the University of Notre Dame.
Gresik says it's hard to plan for the impact the trouble in Libya and other countries will have on gas prices.
"This is not a planning issue,” said Gresik. “This is a hang on to your hat and see what happens in the world."
