In the last month, gas prices in Georgia have gone up 20 cents. In
the last three years, prices at the pump have steadily risen an extra $2 a
However, the roller coaster ride started in July 2008 when people
were paying a little over $4 for a gallon of gas.
Then, the great recession began and prices hit an average low of
$1.48 in January 2009.
Compared to that price, if you fill up your 12 gallon tank once a
week, you are paying an extra 1,248%.
Who is to blame for these prices? Oil companies love to talk
about Israel and Iran while some blame the President. But, the facts are Exxon Mobile's
profits were up about 50% over the previous year. Profits in 2010 were $19
billion and $30 Billion in 2011. So, part of the blame could go to
federal regulators who, 13 years ago, let #1 Exxon and #2 Mobile merge.
But, if you think gas is expensive here, we've actually got it
good compared to many other companies.
Canada's average is a dollar more than the U.S. Italians pay
nearly $6.00. The big differences are steep fuel prices.
On the other end, in oil-rich Saudi Arabia, motorists pay $0.90
per gallon. The lowest price of a gallon in the world is $0.12 in
The valley is preparing to say its final goodbyes to a fallen Phoenix police officer. Visitation was held Friday night for Officer Daryl Raetz - with a steady stream of his family, friends and colleagues.More >
Visitation was held Friday night for Officer Daryl Raetz - with a steady stream of his family, friends and colleagues - ahead of Saturday's funeral.More >
Thursday, May 23 2013 12:39 PM EDT2013-05-23 16:39:28 GMT
Dan Marco's son was murdered in 2010. (Source: CBS 5 News)
Only people who have lost a close loved one can understand the pain of Travis Alexander's family"My heart goes out to them, because I understand," says Dan Marco, who's son Zachary was murdered in 2010.ZacharyMore >
Only people who have lost a close loved one can understand the pain of Travis Alexander's family.More >
Friday, May 24 2013 4:19 PM EDT2013-05-24 20:19:28 GMT
The Young and the Restless is airing a special tribute episode to the late Jeanne Cooper on Tuesday, May 28 at 11 a.m. MST. Cast members and friends of Cooper recently gathered on set to shoot a celebrationMore >
The Young and the Restless is airing a special tribute episode to the late Jeanne Cooper on Tuesday, May 28 at 11 a.m. MST.More >
Thursday, May 23 2013 11:43 AM EDT2013-05-23 15:43:24 GMT
Fallen officer's daughter graduates from kindergarten
Hundreds of Phoenix police officers showed their support for a fallen colleague by attending his daughter's kindergarten graduation in Anthem on Wednesday. Officer Daryl Raetz was killed in the lineMore >
Tatum Raetz, 5, graduated from kindergarten in Anthem Wednesday and hundreds of uniformed Phoenix police officers were there to show their support for the family.More >
Friday, May 24 2013 10:40 PM EDT2013-05-25 02:40:59 GMT
Closed iBeach Tan location in Gilbert.
Tracy Grogitsky purchased two memberships to the iBeach Tan salon in Gilbert just a few weeks ago. She said one was for a gift for her friends. Thursday, she went to the location to tan. "I thought, 'Oh,More >
Two local tanning salons closed without notice, and customers say they're not getting any refunds. More >
Friday, May 24 2013 12:29 PM EDT2013-05-24 16:29:51 GMT
Every week, CBS 5 News is sent a list of restaurants that have been recently inspected by Maricopa County's Environmental Services Department. CBS 5 News selects five restaurants with some of the highestMore >
Every week, CBS 5 News is sent a list of restaurants that have been recently inspected by Maricopa County's Environmental Services Department.More >