Gas Prices Spike, Up 15 Cents in 1 Week

Climbing gas prices may put a dent in everyone's summer fun.
2:04 | 07/16/13

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Transcript for Gas Prices Spike, Up 15 Cents in 1 Week
temperatures to the spike in the price of gasoline. As we told you last night, up 15 cents in one week. Today a kind of all points bulletin from the aaa. Gas is not going to be cheaper than $3 again. Linzie janis tells us more. Reporter: Across the country today they're feeling the pain. It's ridiculous. I don't like it at all. Reporter: AL LOPEZ WATCHED In disbelief, filling his van costed $13 more than last week. I'm past the $100 mark already. It's very frustrating. Reporter: Across the midwest prices are up, in indiana 34 cents from a week ago. Ohio 24 cents. This as america is producing oil at a record breaking pace. Five years ago pumping out 3.9 million barrels a day, today nearly twice that amount. All that domestic oil isn't helping drivers at the pump. At a senate hearing today on the price spike a troubling prediction from aaa. The days of the national pump price below $3 is likely a thing of the past. Reporter: Which had lawmakers asking how that's possible with all this oil right in our back yard. The fact is it's expensive to move oil from the flush fields of the midwest to consumers, a shortage of pipelines means it's largely transported on barges and trains at a cost of up to $17 more a barrel. Strict regulations mean it's actually cheaper for companies to ship overseas. China pays more and so does india. Look at europe. In the uk gas is nearly $8 a gallon, in france and italy almost $9. I'm here at the port of language beach, california. One of the busiest in kraifl. This just arrived carrying 1.3 million barrels of oil. That's just enough to keep every driver on the road for only 90 minutes.

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