Pump Getting More Painful

CHICAGO (CBS) – Prices at the pump keep jumping.

Thursday in Chicago, regular unleaded was running $3.67 a gallon. Friday, it was up to $3.74 – more than 20 cents higher than it was last week.

CBS 2’s Kristyn Hartman reports.

Experts say you can blame the saber-rattling in Iran as fear of conflict grows.

“People in Europe are hoarding supply — countries in Europe and Asia — because they’re afraid they’re not going to be able to get oil,” says Phil Flynn, a fuel analyst and Fox Business Network contributor.

If there is a war, gas prices could easily move to $5 a gallon, he says.

So what can you do to make it better?

The tried and true stuff works. Driver more slowly.

The AAA Motor Club also advises drivers to maintain tire pressure and look into credit cards that give you cash back or points at the pump. Just read the fine print.

Flynn says gas prices would drop dramatically if the situation with Iran calms.

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