Unrest in Egypt causing gas price hike - MyFoxAustin.com | KTBC Fox 7 | News, Weather, Sports

Unrest in Egypt causing gas price hike

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ATLANTA -

The unrest in Egypt has fueled a hike in gas prices.  Prices at the pump are up as much as 20 cents in the past week and could continue to go up as the price of crude oil goes up.

The price at the pump for regular gas at one QuikTrip in DeKalb County stood at $3.43 a gallon on Wednesday. QT and other gasoline retailers expect to see continuing price increases as wholesale prices surge.

The rising prices will affect consumer budgets and summer travel expenses, as well as the cost of doing business for companies like Superior Plumbing. From a base in Kennesaw, owner Jay Cunningham has about 70 employees and 50 vehicles covering the metro area.
 
When you look at a small business, a plumbing business like ours…If in the last few years, we're spending a million dollars or so just on fuel, we've got to keep an eye on it," said Cunningham.

Uncertainty about the extent of gas price increases makes cost calculations difficult. Cunningham said that he wants to ensure that customers pay the actual cost of fuel, not an inflated guess.

The company has seen the cost of fuel rise by more than 30 percent in recent years.

Experts say the higher gas prices can also be blamed on low supplies because of an unanticipated demand for oil.

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