News
12:45 pm
Thu September 6, 2012

Oil Industry Spokesperson Talks About High Gas Prices

Gasoline prices were expected to drop after Labor Day.

But Ohio Triple-A says this week's statewide average for a gallon of regular gasoline is up by 11 cents from a week ago, and up 16 cents over this time a year ago. Rayola Dougher of the American Petroleum Institute says prices fell earlier this summer due to pessimism about global economic growth. Dougher says if world demand is up, prices in the U.S. will rise, because America is the biggest fuel consumer in the world. Dougher says although global demand is expected to be up for the third quarter, prices will likely decrease because winter fuels cost less to produce.

(Dougher: since then there's a little bit more optimism that policy makers in the U.S., in China, and in Europe will step up to try to prop up their economies more than we have. So that then puts the expectation to more demand.) 



(Dougher: since then there's a little bit more optimism that policy makers in


the U.S., in China, and in Europe will step up to try to prop up their


economies more than we have. So that then puts the expectation to more


demand.)