Rising Gas Prices May Force Motorists To Make Some Tough Choices

By Jeff Neumeyer

February 23, 2012 Updated Feb 23, 2012 at 5:59 PM EST

ALLEN COUNTY, Ind. (Indiana's NewsCenter) --- That sharp pain in your wallet could be the price of gasoline on the rise, and experts fear the price climb is just beginning.

A petroleum analyst with gasbuddy.com says prices in Fort Wayne could spike up to 20 cents before the end of the week-end.

Several north Fort Wayne service stations were selling a gallon of unleaded fuel mid-day Thursday for $3.69.

A refinery fire in Washington state is getting blame for some of the short term increase, but longer term, a rebounding economy and fears about Israel and Iran getting into an all out war are sparking concerns about a disruption in oil supplies that would undoubtedly send prices soaring.

$3.70 a gallon isn't great, but it sounds good, if the alternative is $4.50 to $5.00 a gallon.

Gloria Caine/Frustrated by Gas Prices: " It's just going up all the time. I hate it. What else do you want to know."

Michael Karl/Gas Prices are a Hassle: " I believe prices are going to go higher. I'm not sure why. It seems to vary all the time, but it hurts too. You're trying to make your house payment, your truck payment."

President Obama is also paying attention to the higher prices.

He focused on the subject during a speech Thursday in Florida.

He said domestic oil and gas production have increased under his watch, but that the solution requires more than increased drilling.

He spoke of an “all of the above” energy strategy, with more reliance on wind, solar and nuclear needed as well.




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