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Bloated Gas Prices: Relief in Sight?
Aired August 25, 2003 - 14:41 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
KYRA PHILLIPS, CNN ANCHOR: Well, if you've been filling up at the pumps, chances are you're suffering gas pains. Prices rose more than 15 cents a gallon in the past two weeks, and along the West Coast, black gold is bringing in $2 a gallon.
Maybe CNN's Jen Rogers has a little recipe for relief, hopefully there.
Hi, Jen.
JEN ROGERS, CNN CORRESPONDENT: Hi there, Kyra.
Well, you know, as if Californians didn't have their heads spinning enough trying to keep up with the whole recall election, now they are trying to keep up with soaring gas prices. We're at a gas station right now. Prices are about $2.19, and that is for the cheapest gas you can get. We're not even talking about full serve here.
Now while many consider Los Angeles, of course, the driving capital of the United States, and people here are certainly getting hit hard, it is a story being repeated all across the country. Really, if you look at the most event survey coming out, Lundberg doing a survey. They have been tracking this for 50 years, and they say the nationwide average, you know, jumping 15 cents is the biggest jump that they have seen in the half century that they have been doing this. And if you sake a look, really, just across the country you can see how high gas prices are everywhere.
Here in Sacramento -- of course, California really known for volatile gas prices. They are above $2. But Las Vegas, $1.88. Chicago, $1.83. Salt Lake City and Detroit both above $1.70 and Miami $1.68.
So how are people dealing with this as we head into the busy, busy driving weekend of Labor Day? Well, at this gas station we wanted to get the word really on the street from George Iturralde. He is a mechanic here, and his father owns the station.
What are your customers saying? Do they get really upset about these prices?
GEORGE Itanium, MECHANIC: Not this time. They got pretty used to it right away because the prices are all the same everywhere. You know, we're not making more money. We're pumping less gas because it's high. ROGERS: So even though people are heading into Labor Day and it's August, people aren't buying as much? Does it really change habits that quickly?
ITURRALDE: Yes. A lot of people are driving smaller cars and people don't want to really drive because the gas is too expensive.
ROGERS: So people aren't up in arms this time? I mean, in March people seemed a little bit more mad?
ITURRALDE: They're more used to it this time. They didn't say nothing about the prices this time. They got used to it.
ROGERS: How often do you change your prices and the big question, do you have any idea when you think you're going to be possibly lowering any of these prices?
ITURRALDE: Hopefully next week because they already fixed the piping. Hopefully it will go down on prices and everybody will be happy.
ROGERS: Well, Kyra, everybody being happy might be a little ways off. We've talked to a number of experts that are saying as what George is saying, that we could see some relief maybe next wreak after Labor Day because that's when demand should slow a little bit. But there's another camp out there that thinks it could awhile. These prices could be a little bit sticky on the way down -- Kyra.
PHILLIPS: All right, Jen. Well there was a little glimmer of hope there. Thank you.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired August 25, 2003 - 14:41 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
KYRA PHILLIPS, CNN ANCHOR: Well, if you've been filling up at the pumps, chances are you're suffering gas pains. Prices rose more than 15 cents a gallon in the past two weeks, and along the West Coast, black gold is bringing in $2 a gallon.
Maybe CNN's Jen Rogers has a little recipe for relief, hopefully there.
Hi, Jen.
JEN ROGERS, CNN CORRESPONDENT: Hi there, Kyra.
Well, you know, as if Californians didn't have their heads spinning enough trying to keep up with the whole recall election, now they are trying to keep up with soaring gas prices. We're at a gas station right now. Prices are about $2.19, and that is for the cheapest gas you can get. We're not even talking about full serve here.
Now while many consider Los Angeles, of course, the driving capital of the United States, and people here are certainly getting hit hard, it is a story being repeated all across the country. Really, if you look at the most event survey coming out, Lundberg doing a survey. They have been tracking this for 50 years, and they say the nationwide average, you know, jumping 15 cents is the biggest jump that they have seen in the half century that they have been doing this. And if you sake a look, really, just across the country you can see how high gas prices are everywhere.
Here in Sacramento -- of course, California really known for volatile gas prices. They are above $2. But Las Vegas, $1.88. Chicago, $1.83. Salt Lake City and Detroit both above $1.70 and Miami $1.68.
So how are people dealing with this as we head into the busy, busy driving weekend of Labor Day? Well, at this gas station we wanted to get the word really on the street from George Iturralde. He is a mechanic here, and his father owns the station.
What are your customers saying? Do they get really upset about these prices?
GEORGE Itanium, MECHANIC: Not this time. They got pretty used to it right away because the prices are all the same everywhere. You know, we're not making more money. We're pumping less gas because it's high. ROGERS: So even though people are heading into Labor Day and it's August, people aren't buying as much? Does it really change habits that quickly?
ITURRALDE: Yes. A lot of people are driving smaller cars and people don't want to really drive because the gas is too expensive.
ROGERS: So people aren't up in arms this time? I mean, in March people seemed a little bit more mad?
ITURRALDE: They're more used to it this time. They didn't say nothing about the prices this time. They got used to it.
ROGERS: How often do you change your prices and the big question, do you have any idea when you think you're going to be possibly lowering any of these prices?
ITURRALDE: Hopefully next week because they already fixed the piping. Hopefully it will go down on prices and everybody will be happy.
ROGERS: Well, Kyra, everybody being happy might be a little ways off. We've talked to a number of experts that are saying as what George is saying, that we could see some relief maybe next wreak after Labor Day because that's when demand should slow a little bit. But there's another camp out there that thinks it could awhile. These prices could be a little bit sticky on the way down -- Kyra.
PHILLIPS: All right, Jen. Well there was a little glimmer of hope there. Thank you.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
