BALTIMORE (WJZ) — If you own a car, you probably feel like your bank account is under siege. Gas prices are climbing rapidly and it could get even worse.
Kai Jackson explains how decisions made in Annapolis could affect your finances.
Just the possibility of a gas tax increase makes drivers cringe, but state Republicans warn a gas tax hike won’t be levied without a fight.
If you drive, the numbers are not encouraging: $3.05 for a regular gas at one station. At another, it’s $3.19 for regular and $3.43 for premium.
“I think the gas is already high enough as it is. People are having problems with the economy finding jobs,” said Siren Davis.
Energy experts say because gas is a commodity, it’s affected by many things, including market conditions and world events.
“Any world event, any indication that there’s a shortage of crude or that there’s a shortage of refined products will affect the retail price of gasoline,” said Pete Horrigan, Mid-Atlantic Petroleum Distributors’ Association.
In Maryland, it’s possible that drivers may shell out more money for gas.
The national average for gas was just below $2.75 a gallon this time last year. It took a slight dip in October and right now, it’s well above the $3 mark.
Because of the looming state budget deficit, Governor Martin O’Malley says a gas tax hike is possible. www.stopthegastax.com is determined to put the brakes on raising the gas tax.
“We think people ought to know and we want to give them a tool, a resource to contact the legislature and stop it,” said Ryan Mahoney, Maryland Republican Party.
Oil experts acknowledge even though Maryland is below the national average, paying in excess of three dollars a gallon is painful.