The price at the pump jumped 42-cents over the last month and there are several reasons given for the hike
The price at the pump jumped 42-cents over the last month and there are several reasons given for the hike. Creighton University Economist Dr. Ernie Goss says it is true refineries are switching to summer blends and the price of crude do play a part in gas prices but a portion of the cost is related to the value of the U-S dollar.
Dr. Ernie Goss, Creighton University Economist; "Federal Reserves."
Dr. Goss says there will be some relief at the pump with approval of the Keystone XL oil pipeline but we won't see that reflected at the pump for several years.
Gas prices have reached three-dollars-67-cents a gallon and that is taking a big bite out of most Nebraskans budget. Creighton University Economist Dr. Ernie Goss says with the current federal policy in place there really isn't much light at the end of the tunnel.
Goss; "120-dollars a month."
Dr. Goss says about one-fifth of the growth in the increases we are seeing at the gas pump can be traced back to the Federal Reserve.
Gas prices have gone up 42-cents in the past month and the end is no where in sight. Creighton University Economist Dr. Ernie Goss says the approval of the Keystone XL oil pipeline would make a difference regarding the price at the pump but we wouldn't see its impact for a few years.
Goss; "voodoo economics."
Dr. Goss says that relies on many strange assumptions to get to that point.
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(courtesy of Nebraska Radio Network)