Major Companies To Hike Prices To Offset Gas Prices

BALTIMORE (WJZ)—Get ready for even higher bills. This week, several major companies say they’re hiking prices to make up for the rising cost of gas.

Adam May reports you’re about to feel the impact.

Brace yourself the next time you head to supermarket. Grocery shopping is getting more expensive, and gas is getting the blame.

Beef and pork prices are expected to rise 6-8 percent this year, fruits and vegetables up 5 percent, cereals and grains up more than 4 percent. Others products from shampoo to toilet paper are climbing, too.

“Ridiculous,” said one consumer. That’s the feeling among many now stuck paying at least $4 a gallon for gas.

“It kills my budget; it soaks up a lot of my money,” said a Maryland driver.

And even more frustrating for drivers: Major oil companies announce billions in record-breaking profits.

“They are just ripping us off and they’re making money off of us,” said a Maryland driver.

That’s why some Democrats are joining the president calling on Congress to end big oil subsidies–arguing repealing their tax breaks would save Americans 4 billion dollars each year.

“Big oil is taking us to the cleaners every single day,” said Sen. Barbara Boxer, D-California.  “We have to stand up to them.”

But many opponents and energy experts argue oil companies would simply pass on their loss to customers at the pump.

“Oil companies I don’t think are colluding to keep the prices up; they’re doing business,” said Mark Bernstein, USC Energy Institute. “And then there is this whole other set of factors who push the price up because they are buying future oil and they are worried whether oil will be there, and all those things drive the price of oil up.”

And those prices could go higher.

“We did see demand go up slightly last week, which we attribute slightly probably to the Easter holiday. It will be interesting to see what impact Memorial Day travel has,” said Ragina Averella, AAA Mid-Atlantic.

With no end sight, many personal budgets are busting.

“Just try to cut back on everything you don’t need,” said one driver. “Just get the necessities and stuff that’s important.”

The U.S. Commerce Department says economic growth slowed in the first three months of this year while unemployment benefit requests climbed again last week.

Comments

One Comment

  1. chuck says:

    dont they realiize that this will hurt the people and cost more jobs because pepole who drive vans trucks ,cars for a living who wont be able to afford the gas to work what happens then ? the gas company prys on us making billions meanwhile we lose money every thing goes up even us what happen to we the people for the pepole i think its a bunch of bull to pad there pockets. the gov. needs to stop being of afraid and step up dont for get who put you there between gas and gas n elect we are dying here

    1. Donzi Don says:

      I guess you only made it to 3rd grade English….

      1. DJ says:

        So, what’s your excuse?

  2. John Russell says:

    Keep taxing everybody and watch more people leave and I will just do what I did this weekend and buy over the STATE LINE and avoid the taxes…Next wave will be to move out of this area so close to The Devil Washington DC and BIG c=CROOKS and make my own fuel..I kid you not…Hell might even open my own Gas Station not controlled by FEDs or State to steal Money in taxes along with Really big crooks in BIG OIL and OPEC…

    1. John Ehrlich says:

      Hey – the freaks in Maryland voted O’Malley back in so you deserve to have the highest Gas Taxes in the Country. Got what you voted for and now you can suck on the exhaust pipe. Ha, ha, ha !!!!

      1. sherry ramirez says:

        I didnt vote for him, so do i deserve this pain to?

      2. kathy says:

        I didnt vote for that moron. So dont blame everyone in Maryland .I voted for Bob Ehrlich So i dont deserve to suffer with the other idiots in MD.

    2. What are the real prices says:

      There are a few things wrong with “Prices at the Pumps.” First, what is the MSRP, we can find that out for every other product in the country including commodities, but it is never listed at the point of purchase, the pump. Second, we see the tax for everything we pay for when we make a purchase, it is right there on the recipt, where are the taxes listed / posted at the pumps, or even on the recipt.

      There is a website (with app) http://www.gasbuddy.com it is free, you can contribute to it. It lists gas stations with their current prices, as updated by people using the application (can be on any smart phone). This has saved me tons of money.

      Boycot Exxon and BP, they rape the public with high prices.

  3. Bob says:

    Don`t buy any thing at the gas stations but gas for the next month.Let them see how it hurts their pockets I now save 42 dollars a week on coffee.Next step is at the polls lets take out the trash.Vote America and God Bless!

  4. JLTaylor says:

    More and more people are going to find it impossible to guy gas and therefore will stay home. People will not be able to spend. They will keep raising prices and only the filthy rich will be able to buy and they will be careful how they spend. The U S A has lost a losing battle. We’ve sunk in the quicksand and cannot get out and all thanks for it goes to the Washing bureaucrats as well as the states big wigs.

  5. Manas says:

    Thirty Years Ago, Gas Prices Were 30 to 40 Percent Higher http://goo.gl/7IXpc

  6. Ernie says:

    Bob

    Don`t buy any thing at the gas stations but gas for the next month.Let them see how it hurts their pockets.

    If you do that the big oil companies are still getting your money. The only one it hurts by doing that is the station owners who make very little off of each gallon of gas. Most of the money gas station owners make is from snacks, sodas, cigarettes and working on cars if they have service bays.

  7. KottaMan says:

    Yeas, and don’t for get Guv’ner O’TaxME who want to raise the state’s gas tax another 123 cents per gallon. What else, OTM, can you think up to drive this state to the edge of oblivion?

    1. KottaMan says:

      Sorry, 12 cents a gallon….

  8. Debbie says:

    On top of these sky high prices the MD delegates are considering adding an increase to the MD gas tax showing what little concern they have for the citizens. Just give them more money to waste. If they do succeed in raising the gas tax here in MD it may be the last straw for many of their political careers as that will directly affect so many citizens.

  9. Guest2 says:

    It’s time to bust them and we start drilling here and leave them out in the cold. Greedy priates and we’ve allowed them to do this too.

  10. MARIAN says:

    i say cut their pay in half and see how far they can get. charge the governor for living in the manison and for use of all autos and security and any other perk these guys and gals have. oh and for extra measure raise the taxes THEY WILL HAVE TO PAY

  11. steve says:

    1.) Not Applying for 2nd Job – Im not about to do double the work.
    2.) Cut Discrentionary Spending – Already done this (NO Car, NO Cell Phone, NO Cable/NO satellite, Stopped Smoking, No Incandescent lights/switched to led, No more CRT TV`S or computer screens/Switched to LED, Replaced landline w/magicjack.
    3.) Taken out line of credit on my home – I refuse to own a house for now.
    4.) Taken out personal loan – Im not about to.

    The moral is, i`m not going to PAY for what others messed up, they cant make me. Yeah prices have gone up, but i buy less of it, use less of it, and exercise all the time, traveling by bike, or by foot. And i save, save, save, my hard earned cash. I read a lot about the great depression, and see a lot of similarity. I went old school, and those that don`t like it can, smooch where the sun don`t shine. I am doing the most important thing, HURRY UP AND WAIT!!!! For things to improve, relax, be in no hurry. DON`T WORRY, BE HAPPY!!!!

  12. Boris says:

    So it is ok for him to talky about Erlich a fee is a tax. But then turn around and jack up taxes, fees and anything else he can think of yet He was the better choice for Governer GOOD choice Maryland. I guess you all ARE just that stupid. Try looking beyond the party, vote for the best person. Omaley has always been a liar, he sid he would spend $400,000,000.00 before he was evan in office, before he had any idea where he was going to get the money.
    THINK

  13. Mike Lidinsky Jr says:

    I think its time for the federal government to either regulate the price of gas, if a station owner sells gas higher than the government regulated price slap them with a 100000 fine and subsequent offenses 500000 fine

  14. Heidi McGahan says:

    Stop whining Maryland. We pay $ 6.50 per Gallon in Tasmania. So something to look forward to for you, just keep those Democrats in office.

  15. RDNKKKGRL says:

    YEAH RIGHT THEY SAY THEY WANT TO RAISE TAXES AND STUFF ON EVERYTHING TO MAKE UP FOR GAS PRICES YEAH OK AND THE JOKES ON YA’LL IF U BELIEVE THAT ONE WAT HAPPENS W/THE 70 &80 YR OLDS WHO ONLY GET LIKE 400.00 MO SOCIAL SECURITY HOW THE HELL R THEY SUPPOSED TO EAT OR PAY BILLS,HOUSE TAXES,BG&E BUT YET WELFARE WONT HELP THEM CLAIMING THEY DONT QUALIFY BECAUSE THEY MAKE TOO MUCH MONEY A MONTH……..YEAH OK THE WHOLE ENTIRE GOV’T IS CROOKED AS HELL ITS ALL ABOUT THE RICH GETTING RICHER AND THE POOR GETTING POORER AND JOHN THATS EXACTLY Y I AGREE W/U 100% AND BUY ALL MY CIGS AND STUFF OVER THE STATE LINE!!!!!!!!!!!!!!

  16. what says:

    Unless you struggled, you dont know what it is like to struggle. Let the people making us struggle do some struggeling themselves and see how fast things change. Take away the perks they get like other companies have taken away employee perks to make ends meet so why not the government? Oh yea they are too good for such terrible treatment. I agree if you are across state line buy what you need and can get for less, no other way to make it. Of course it wont pay to drive to DE for cigs if you have to pay all the tolls and extra gas to save a buck. They know what they are doing we just have to figure away around the legal criminals.

  17. The honest 1 says:

    Is it just me-or is this country trying to eliminate the middle class? I mean really? Jacking up prices is only going to force our economy further. If no one is spending because they don’t have the extra money-where is our economy being funded? The people on welfare spending money at walmart? Or the rich being forced to shop off Rodeo Dr? This is toxic thinking on the governments behalf!

  18. CF says:

    They say they are raising prices because the cost of fuel is rising. That’s what they said last time gas was close to this price, yet they didn’t lower the price of anything when the price of gas went down. How can they justify that? Or am I mistaken?

  19. Save our FUEL says:

    The answer to rising cost of fuel is to use less of it. This doesn’t hurt the oil companies, it reduces demand, lowering the cost. I see people everyday driving big SUVs getting 14 MPG to the salon, the liquor store (another tax there), or to the bank. People need sensible vehicles. While I own a Dodge Charger R/T with the 5.7L Hemi (18 MPG), I also own a Suzuki GSX-R 750 sport-bike (43 MPG) and the wife has a Toyota Prius (Gen II 43 MPG also). I only drive the charger in the winter and in bad weather, this keeps my fuel cost down. People would be surprised by the Prius if they only test drove one, just for giggles. It has plenty of cargo room and leg room surprisingly. The point is, if you have a gas guzzler, use it sparingly and wisely, combine errands to geographical destinations in a way to reduce travel time, reduce fuel consumption, and decrease your fuel costs. When you do this you decrease the demand, putting more supply in reserve, and lowering the cost of fuel.

    NOW, only if this country (the USA) would drill more for its own oil, rather than spending millions on delivery cost due to the amount of fuel burned in those supertankers we would be better off.

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