When will gas prices go down?
$1.48 is the average price this week for a gallon of regular gas here in Riverside and San Bernardino counties. Last March, you would have paid a lot less -- $1.38.
Valley gas stations are sporting prices at well over the two-dollar mark. It's the result of Middle East supply concerns, and Venezuela's interrupted oil production, the result of a general strike. Here in the valley, drivers are feeling the pain, especially those who depend on gas for their jobs, and those who drive large vehicles.
"We don't go as much as we'd like to on the weekends because it's $50 to go somewhere plus what you're going to do when you get there," says Palm Desert resident Earlene Thompson.
In northern California, Yreka residents hit the steps of the county courthouse over the weekend. Gasoline is costing them an arm and a leg, so people rallied to vent their frustrations.
Back here in the valley, we did find one driver who says prices are just right. Richard here is visiting from Oxfordshire, England.
"These gas prices are brilliant. Why can't we have these back home where we come from. It'd be superb."
As high as these prices are now, industry analysts don't expect them to remain sky high forever. They expect them to begin falling in April, and be back to normal, about $1.40 on the national average by July, just in time for the peak summer driving season.
Relief can't come soon enough for many drivers, but IFR Pegasus analyst Tim Evans says barring an extended war with Iraq, gas prices will fall along with crude oil prices, as Opec boosts production.