University of St. Thomas Finance Professor David Vang spoke with KSTP-TV about the rising gas prices in America, and how it could affect Minnesotans’ plans for a few years.
From the story: Industry experts expect high prices to stay put for months. University of St. Thomas professor of finance David Vang is leaning towards a bit longer than that.
“Well, I’m a little bit pessimistic,” Vang said. “I think the prices are going to be high for maybe at least a couple of years.”
From supply and demand, political uncertainties, to where we were at a year ago – when Minnesota’s average was $2.84 – Vang said we’re in the midst of a perfect storm.
“Because we had a surplus [last year], and they cut back on production, and they’re not ramping up right now, there’s a kind of a misbalance [with] our supply not up to where our consumption levels are,” Vang explained.
Watch the interview below: