Gas Prices Up | VideoJessica Roose | 8/8/2012
Eugene Graner, President of Heartland Investor Services, says the increase can be attributed to the price fluctuation of crude oil and increased EPA regulations that put more costs on to refineries as they try to comply.
He also says no new refineries have been built in the last 30 years, although there have been more ethanol plants.
"In a time when ethanol has become 10-percent of the national gas supply it`s being reduced. So that`s just like having less gasoline on hand. So mandates are being maintained but overall gasoline vs gasoline with ethanol usage is increasing."
Graner says he expects prices to stabilize and does not believe Monday`s refinery fire in California will affect prices in our area.