The reason why gas prices are high right now

Posted at 5:14 PM, Oct 11, 2021

RICHMOND, Va. -- Across the country, people are seeing their highest gas prices since October of 2014, according to AAA.

Morgan Dean with AAA said that the average price per gallon of gas is $3.08. That is 97 cents more per gallon than at this time last year.

Dean said that one reason why the prices at the pump are going up is because of crude oil prices.

"The price of crude oil makes up more than 50% of what we pay at the pump, so the higher the crude oil prices are, the more we're paying at the pump," ()

"I think it's ridiculous and I think it's a shame. I dread coming out to the gas station. Every time I swipe my card, it's another chunk out of my bank account," () said.

Last year, crude oil was selling for $40 per barrel. Now, Dean says it's double that price at $80 a gallon.