What's The Reason For Rising Gas Prices?
MINNEAPOLIS (WCCO) -- Gas prices are rising, and on Wednesday Democrats said it's all President Donald Trump's fault.
Sound familiar? He slammed them when prices spiked a few years ago.
Just when you thought it was safe to drive again, gas prices are going up.
Government forecasters are predicting the price of gasoline will jump an average of 33-cents a gallon by summer. The average Twin Cities price at the pump right now is $2.85, according to GasBuddy.com. That's 59 cents a gallon higher than a year ago.
Some of the highest average gas prices since 2014. High enough that you'll notice.
Here are the numbers:
Right now, you're paying about $8.70 more every time you fill up your tank. The tank of gas that cost you $34 bucks to fill up last summer? It's costing you almost $43 dollars today. That's $460 more than you paid last year.
And that's not counting your road trip vacation.
On Twitter, President Trump says it's because Middle East countries are manipulating the market.
"No good and will not be accepted!" the President tweeted on April 20.
But Citizen Trump blamed President Barack Obama for gas prices. The future president calling for Obama to be fired in 2012.
In March of 2012, Trump told Fox News he thought President Obama would lose his re-election bid because gas prices were very high -- around $4 a gallon.
Trump also said Obama had the power to control gasoline prices, and that his Energy Secretary wanted gas prices high.
"Obama saying very strongly that the President has absolutely no power over the price of gasoline or the price of oil which is totally false, by the way, totally false," Trump said.
That's NOT TRUE: Presidents don't control gas prices.
Experts say we're paying more because: U.S. refineries are switching to more costly summer grade gasoline. Crude oil production is down, and worldwide demand is up.
Higher gas prices will eat away at President Trump's tax cut. Estimates give the average middle-class family $930. But half that could now go just to paying for gas.
That doesn't make it easier, but here's one big hack to stretch your gas dollar: Slow down!
For every five miles an hour you drive above 50, you waste enough fuel to add 19 cents to every gallon of gas you buy.
Check our links for other suggestions on how to stretch your gas dollar.
That's Reality Check.
Here are some of the sources we used for this Reality Check.
Gas Buddy: 18 Month Average Retail Chart
MN Dept of Revenue: Avg Gas Price May 2017
CNBC: Gas Prices Hit Three Year High, And Are Expected to Keep Rising
Middle Income Tax Relief: Tax Policy Center
Gas Prices Erode Trump Tax Cuts
