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July 6, 2008

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Big Or Small: Gasoline Engines Are Costing More

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By Gina Ford

Story Published: May 16, 2008 at 4:45 PM CDT

Story Updated: May 16, 2008 at 10:47 PM CDT

Just when you thought things couldn't get worse than four dollar gas, Goldman Sachs is raising its crude-oil forecast for the second half of the year by 32%.

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That means what is now pain at the pump may become excruciating.

Already, people across the country are being forced to take radical measures to adjust to rising prices.

And small businesses that depend on gasoline to operate, like West Peoria's Kartville, are forced to pass higher costs onto consumers.

At Kartville most of the rides operate on gas using 500 gallons per week.

Owner David Baker says the rising gas prices add an additional two-thousand dollars per week to his costs. He says he's trying to keep prices down but can't withstand the costs forever.

"Well we're absorbing as much of the cost that we can but we're going to have to have a small rate increase. Hopefully people can't afford to go on vacation as much and they'll stay home and spend it locally."

Baker is also considering shortening the length of the ride times.

The Kartville owner worries that soon families may have to cut back on entertainment because they can't afford the necessities.

View Oldest Comments First

Saturday, May 17 at 3:56 PM Mike Martin wrote ...

If this isn't price gouging I don't know what is.I already drive one of the most fuel efficient cars on the road but I still have to commute to work and I can hardly afford it! This is like some science fiction horror story come to life. Where does this end? We sometimes here that one way to lower prices is for big oil to build more refineries. Why don't they use some of mega billions of profit to construct more refineries? The answer is simple, they don't want to. Greed, plain and simple.