Two Associations Square Off On Higher Gas Prices
Frustrated with high gas prices? You're not alone. At a North Hills Mobil Station on the corner of Sepulveda and Nordhoff some drivers told us dealing with the higher prices is hard. One motorist said it cost him $100 bucks round trip to get to Anaheim. Another driver said, "I'm not gonna lie, it's a killer!"
A couple of weeks ago, we were told the oil market was volatile, refinery problems and slow imports were to blame for a sudden spike in prices at the pump.
Now, Santa Monica group Consumer-Watchdog says that based on state data the oil companies are profiteering. To them its big oil trying to make big bucks
But, to the Western States Petroleum Association, Consumer Watchdog is grossly misrepresenting the facts.
When the watchdog group quotes state figures that oil companies have increased their profit a $1.17 a gallon since the beginning of the year... almost doubling what they're getting in just seven months, Western States Petroleum Association says it's not so. In a statement, WSPA said that while some of that may be profit it's hard to tell exactly how much. They also say that increase accounts for such things as covering shortages, refining and brand advertising.
We have more in our video report.