Gas prices rise yet again

Price of gasoline rises, $4.20 a gallon in St. Clair Shores

Author: Shawn Ley, Local 4 Reporter, @ShawnLeyLive, sley@wdiv.com
Published On: Aug 02 2012 06:41:59 AM EDT   Updated On: Aug 02 2012 06:23:26 PM EDT
399 gas price sign
HARPER WOODS, Mich. -

Here they "grow" again. 

Gas prices are up again in metro Detroit and up in a big way. It's a change that happened literally overnight.

The price yesterday at a BP in Harper Woods was around $3.60 according to the clerk here.

This morning, it's jumped to $4.00.

That's a 30 cent increase that drivers this morning can't help but notice.

“Yes. I did notice the price jump on the gas. I noticed it this morning,” Said Latisha Moore, who was filling up here around 4 a.m.

A gallon of gas in Harper Woods will cost you anywhere from $4 a gallon all the way up to $4.20 in St. Clair Shores.

It's the result of the largest July increase in 12 years based basically on summer demand.

“It’s crazy,” Moore said.

Now that prices have jumped, ever notice how long it takes them to come down again?

Gas stations actually don't make much profit from gas, so there's little incentive for them to bring the prices down after they spike like prices did this morning.