Wichita gas prices take overnight jump

By: KAKE.com Email
By: KAKE.com Email

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WICHITA, Kan. - The Good Morning Kansas Gas Tracker warned late last week about crude oil prices going up. Now the impact has hit Wichita as several stations make big price increases Monday night and Tuesday morning.

Some QuikTrip stations led the way Monday night, by pushing the price of regular unleaded from $3.39 a gallon to $3.55. That's A 16-cent increase, or about five percent.

One Facebook fan told KAKE News Lawrence had a similar increase, from $3.51 to $3.67 overnight.

The main reason for the price hike can be found in Iraq. Crude oil prices moved high in recent days, after ISIS militants started taking control of key cities.

The main price for crude oil went above $107 in New York Monday, but closed below it. The main price in London markets was close to $113.

But some oil watchers say this price increase may be simply market speculation. They note 90 percent of Iraq's oil exports come from the south, which is still relatively secure.

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