Triple A predicting gas prices will continue to rise
High gas prices may be here to stay.Photo: Video by ktnv.com
Las Vegas, NV (KTNV) -- Are high gas prices here to stay?
It certainly seems so. We may never see gas prices under $3 a gallon again.
Triple A says that what we are paying right now will soon be considered cheap.
Prices in the Las Vegas Valley have humped 10 cents in the past month and 430 cents over the last year.
The current average is $3.63 per gallon.
The troubling prediction from Triple A was featured at a Senate hearing on Tuesday.
According to the experts, America is producing oil at a record-breaking pace.
But all that domestic oil isn't helping drivers at the gas pump.
That is because there is a shortage of domestic pipelines.
There are plans in place for a pipe stretching from Canada to Texas which would supply oil to much of the country.
But, the White House is against it and construction is bogged down by red tape.
The reality is that right now, all the government regulations mean it's actually cheaper for companies to ship American oil overseas than to keep it here.
Despite what we think of as high prices, Americans still pay a lot less for gas than drivers in most of the world.
In the United Kingdom, gas is almost $8 per gallon.