Gas Prices Rise, Obama Takes Notice

Gas Prices Rise, Obama Takes Notice
Thursday, February 23, 2012 - 4:20pm

Gas prices are on the way up again, making for some angry drivers, and forcing President Obama to take notice. Today, the president spoke about soaring gas prices while giving a speech on energy in Miami.

Gas is averaging about $3.58 a gallon now-- about 25 cents more since January 1st. Experts said prices could reach the over $4 a gallon mark by Memorial Day.

President Obama didn't have many answers, but said the ultimate fix is finding alternatives to gas.

"We can't just allow ourselves to be held hostage by the ups and downs of the world oil market. We have to keep developing new sources of energy. We have to keep developing new technology that helps us use less energy," said President Obama.

Nationwide, gasoline usage is at an 11 year low. Although the national supply is up significantly, analysts said global issues, like unrest in the middle east is contributing to rising gas prices.

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