Gas prices back on the rise

Gas prices back on the rise

MYRTLE BEACH, SC (WMBF) - The past few months for local plumber Billy Adams have been great for both his bottom line and peace of mind. With gas prices as low as they've been, his frequent trips to houses around the Grand Strand aren't as costly as they used to be.

"Before, if I put $40 in, in two days I was putting another $40 in, and then another $40 in," explained Adams. "So, I was spending about $140 to $120 a week in gas, now I'm spending probably $50."

Now with gas prices starting to increase all around the country, those savings may not be as big. Gas prices locally are already 10 to 15 cents higher now than they were last week, and experts say the trend should continue.

Travel experts: Gas prices expected to climb

CCU professor Henry Lowenstein says the recent increase is absolutely related to crude oil prices right now. He says the price per barrel of oil has gone up nearly 8.5 percent, and prices at the pump are following a similar trend.

Looking forward towards summer, Lowenstein expects the rise to continue but says prices shouldn't get too high. In fact, he says gas prices are right where they should be.

"It's like a big circle, it comes right around," said Adams.

For Adams, the ups and downs mean he can't make any brash decisions. The temptation to grow his business with the money he saved recently will simply have to wait.

"Might as well hold onto it for now, see where things are going," he said. "Yes, I would like to buy some new stuff, but right now until I see things differently, no."

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