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Hudson Valley News
Thu September 13, 2012
Gas Prices Climb at Record Pace
In the last three days alone, gas prices in the Middletown area rose 15 cents, to well over $4. How much more they will rise is an unknown. They are increasing at comparative levels across the Mid-Hudson and Catskills regions.
The economy may be showing signs of recovery with increased home sales, but the skyrocketing gas prices put that growth at risk, said Orange County Chamber of Commerce President John D’Ambrosio.
“The cost of transporting things is getting very expensive. What happens then? It gets passed along to those people who probably haven’t had a salary increase in years or had to take a salary decrease,” D’Ambrosio said. “So, it does compound the problem.”
US Senator Charles Schumer said motorists should not expect relief any time soon.
“There is no quick fix because we are at the mercy of both OPEX and the big oil companies,” he said.
Schumer said the United States must become more energy independent, we need more competition from oil companies and the major oil companies that were allowed to merge should be broken up.
Those looking for some relief must head to New Jersey, where prices are also soaring, but in Montague NJ, just off the I-84 Port Jervis exit, the pump price was $3.83 as of yesterday.