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Gas Prices Continue to Rise

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KANSAS CITY, Mo. -- By now you've noticed gas prices on the rise. Experts say it's likely to continue.

The Energy Information Administration says we could see record gas prices in the summer of 2012. According to AAA, gas prices are nearly 16 cent higher now than they were in December of 2011.

"It's hard when you're a college student and don't have much money but you know you've got to do what you've got to do and cut corners where you can," said Cydney Ross of Kansas City.

That's because for many people filling up is not an option.

"I can't do without gas and I can't do anything about prices," said Ralph Ochsnar of Kansas City.

There are reasons for the ebb and flow.

"Part of it is obviously supply and demand which is not necessarily just for our country," said Jeff Mohajir president of Genesis Gas and Oil.

That's because oil is a global commodity. While Mohajir says demand in the U.S. has actually decreased over the past couple of years, prices are affected by other economies like China. The are also other issues.

"The lack of what we call infrastructure for oil, we need more storage tanks, we need more processing plants to convert oil to gasoline that has really been a bottleneck in this country," he said.

The other major component according to Mohajir is the political climate in oil producing countries.

Genesis Gas and Oil is inviting business leaders from all over the metro to see a film later this week. While we can't control the prices here, the goal is for leaders to make the best decisions to keep them as low as possible.

Many experts predict prices will continue to rise to possibly hit $4 by summer of 2012. In terms of the documentary's release to the public, that will depend on the response of business leaders. FOX 4 was told it was not funded by gas and oil companies.

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