High Gas Prices Spark Interest in Hybrid Vehicles

Soaring gasoline prices are causing some people to look for alternative transportation.

Published: 09-Mar-2005

On Monday, the price of regular unleaded gasoline in the Wilkes-Barre/Scranton/Hazleton area rose to $1.92 a gallon, said Heidi Van Vooren, AAA Mid-Atlantic spokeswoman. The price is up 2 cents a gallon from the weekend and 20 cents a gallon since last year.

The price of gasoline typically increases around the spring and summer months," Van Vooren said. "The biggest factor influencing gas prices is the cost of crude oil, which was trading on the New York mercantile market for $50 a barrel."

Jake Bournazian, an economist for the Energy Information Administration, predicted by mid-April, gas prices will rise 15 cents a gallon and taper off.
"Over the next couple weeks, the price will increase 3 to 5 cents per week," Bournazian said.

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