By Staci DaSilva
sdasilva@kcautv.com
Gas prices are at the highest levels they have ever been for President's Day Weekend.
So, if $4 gas has you thinking about parking your car permanently, get ready because prices are set to keep climbing.
The spike stems from Iran halting crude oil exports to Britain and France. And in turn, threatening other nations in reaction to the European Union's upcoming sanctions over its nuclear program.
And while Iran is one factor, the unstable economy in Europe is also playing a part.
One expert says, the oil wholesalers get nervous and sell the oil at a higher price.
Morningside College Economics Professor Dr. Thomas Swanke said, "When that happens, everyone who wants to have really scarce things like oil says 'I don't know what's going to happen but I'm going to get mine,' so how do they get more over someone else? They offer to have a higher price."
So what can you do? Well, Dr. Swanke suggests supporting more public transportation in Sioux City, like trolleys. But there is a less drastic, traditional approach.
Odyssei Wilridge of Sioux City said, "Me and my girlfriend, we carpool a lot. So when we go to work, we go to work together. We'll try to do anything to carpool. That's what we do on the West Coast, we carpool a lot it saves gas prices and it's green on the world."
Experts say don't be surprised if the national average reaches a record $4.25 by late April and nearly $5 by Memorial Day.
Today, the highest we could catch here in Sioux City was $3.39 for Super Unleaded.
