Gas Prices Continue to Rise
   
Each week, the price for gas increases. It is predicted to hit $4 within the next few weeks. The earthquake in Japan has nothing to do with it. High gas prices are being driven by anxiety over the ongoing instability in the Middle East and North Africa, where regimes are being threatened and toppled. The civil war in Libya and discontent with the Saudi Arabian monarchy are the main drivers for oil price volatility, which is the main culprit behind the price rising of gas. In Norway, however, the price for gas is $9.01. That's more than double the U.S.
   
The price increase has also affected businesses. “I’m trying to figure out ways to make up for that extra money I’m having to spend,” said John Turner, owner of the Fort Thomas-based Turner Lawn & Landscaping. “The last thing I want to do is raise my prices.”
   
There are seven basic reasons why it's possible that gas prices will hit $5: big oil needs expensive gas to survive, the OPEC, or Organization of the Petroleum Exporting Countries, wants expensive oil, common supply problems, former big oil exec, John Hofmeister, along with green energy icon, T. Boone Pickens says so, a healthier economy, and continuing inflation.
 
Local small-time businesses, such as grocery stores, have had to mark up prices due to the gas rise. Nationwide, gas prices are approximately $2.80, and rising. But since Sunday, the price has gone up over 32 cents. Crude oil, which is priced in dollars, becomes cheaper for buyers using stronger currencies. That lifts oil prices, which trickle down to higher gasoline prices.

The USA's gasoline refineries are operating at a lower capacity as many undertake routine maintenance. As of the end of last month, the nation's refineries were operating at 83.1 percent capacity, the lowest rate of use since the end of March. Experts say that when the prices for gas will hit its all time high, the demand for it will have already ceased.
By: Becky Welc