14 News, The Tri-State's News and Weather Leader-Gas Prices Soaring
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New Media Producer: Kerry Corum
More gas pains for motorists. The Lundberg Survey says retail gas prices across the country jumped an average of nearly a quarter per gallon in the past two weeks.
Self-serve regular averaged $2.91 a gallon, up from $2.67 two weeks ago. Analyst Trilby Lundberg says mid-grade hit $3 a gallon, while premium climbed to an average of $3.10.
The survey covered the period from April seventh through April 21st.
Among the stations surveyed, the lowest average price in the country for regular unleaded was in Boise, Idaho, at $2.54 a gallon.
Drivers in San Diego were paying the most for gas, at an average of $3.12 a gallon for regular.
Lawmakers return to Washington Monday, and priority one for many is those sky-high gas prices.
Lawmakers fear they can get blamed for high gas prices in an election year. So Monday, Republican Congressional leaders are asking President Bush for action.
Gas prices shot up $.05 a gallon this weekend, up nearly a quarter in two weeks.
Drivers are frustrated and some lawmakers are suspicious. Monday Senate Majority Leader Bill Frist and House Speaker Dennis Hastert, plan to ask President Bush in writing to direct a federal investigation into possible price gouging.
Other lawmakers point to Exxon-Mobil CEO Lee Raymond's retirement pay out in January: $98 million plus more in stock.
They want a windfall tax on oil companies whose profits rise faster than prices and to subject OPEC Nations to US anti-trust laws.
Senator Arlen Specter (R-Pennsylvania/Courtesy: CNN's Late Edition) says,"I think windfall profits, eliminating the anti trust exemption, considering the excessive concentration of power are all items we ought to be addressing."
Senator Carl Levin (D-Michigan/Courtesy: CNN's Late Edition) explains,"If the president would call the oil companies into the Oval Office, and tell them he's gonna support a windfall profits tax the way some of us have been urging, unless they bring the prices down given the excess profits they have earned, the extreme, obscene profits that they've gotten, I bet the prices of gasoline would come down within a matter of days."
Some energy experts are now upping their price predictions: forecasting $4 to $5 a gallon by July.
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