Rising cost of jet fuel causing flight problems

Wednesday, March 14th, 2012, 12:01pm

Rising cost of jet fuel causing flight problems

CHARLOTTE, NC (WBTV) - You know that pain you feel at the pump? It's about to get excruciating at the airport.

Airfares are rising, carriers are canceling flights, and you can attribute it all to the climbing cost of gas.

It is an airline's biggest expense. Every day, the country's carriers buy 48 million gallons of fuel and in the past year, their costs have soared 40% on it.

Airlines say they can't afford all of the routes they used to schedule. And in South Carolina, it looks like one may not be able to fly at all. Public charter airline Direct Air has canceled all of its flights due to a so-called fueling issue. One stranded passenger said he learned the problem was this: "the financial issues that the company was facing," he says. "Whether or not they had the ability to have those funds, and have that fuel approved. Because, apparently, you have to go through approval to even get fuel."

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Why do gas prices come with a 9/10 on the end?

Submitted by Kristen Hampton

Tuesday, March 13th, 2012, 9:49am

Why do gas prices come with a 9/10 on the end?

CHARLOTTE, NC (WBTV) - Some people don't even notice the price of gas comes with an extra 9/10 of a penny tacked on the end? Why?

According to AAA Carolina's, the practice dates back to the 1930's when gas companies were competing for business and a penny was actually a lot of money. The price of gas averaged around 10 cents back then. The practice has never stopped.

The thought is, people are still more likely to only notice the first few numbers in a price. That's why retailers commonly sell a TV at $799.99 for example, instead of $800.

"It's a marketing tactic that suggests that consumers really don't pay attention past the first digit of a price particularly if it's between 1 and 10 dollars," said Yvette Russell, a Marketing Professor at Johnson C. Smith University.

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Home insurance premiums rising

Submitted by Melissa Hankins

Tuesday, March 13th, 2012, 9:47am

CHARLOTTE, NC (WBTV) - The importance of comprehensive home insurance has been drilled into our minds by the tornado that tore through Cabarrus County.

But it's about to get harder to afford.

Rates have been rising slowly but surely for years. This year though will be a shock.

Homeowner insurance premiums are expected to spike 5%. It's the first time the national average premium will climb above $1,000.

A surge in destructive storms is one reason why.

Insured catastrophe losses totaled $35.9 billion in 2011 compared to an average of $23.8 billion over the previous decade, according to the Insurance Information Institute.

And insurance companies say they need to charge more to cover their costs.

They also blame the economy.

Insurers keep 70% of their assets in bonds, returns have been low, and they can raise money is by raising premiums.

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Woman accused of stealing credit cards and jewelry

Submitted by WBTV Web Staff

Monday, March 12th, 2012, 5:11pm

STANLY COUNTY, NC (WBTV) - A joint effort by officers in two counties led to the arrest of a woman Monday.

On February 26, deputies in Stanly County received a report about the theft and use of credit cards, as well as the theft of personal property including jewelry.

An investigation led deputies to believe Kimberly Teeter, 44, stole the items from the victim's home. Deputies were able to recover several items of jewelry and determine Teeter had used the victim's credit cards at several locations.

Warrants were issued for Teeter's arrest. Officers in Rockingham arrested her Monday. She was booked in the Richmond County jail, under $15,000 secured bond.

Teeter faces several charges, including two counts of financial card theft, two counts of identity theft, one count of financial card fraud and two counts of obtaining property.

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Warmer weather blowing into Carolinas, 80 degrees by Thursday?

Submitted by Nick Needham on Monday, March 12th, 2:57 pm

CHARLOTTE, NC (WBTV) - Sunshine and warm weather are rolling into the Carolinas behind a line of scattered storms Monday night.

WBTV Meteorologist Ashley Batey says an upper level disturbance will bring scattered showers Monday tonight and likely into Tuesday morning.

"We may hear a few rumbles of thunder, but no severe weather expected with this next system," Batey says. "Once that moves out, we can look forward to lots of sunshine."

Temperatures will stay in the 60s for Monday but Batey says 80 degree temperatures are in the forecast for mid-week.

Lows will be in the mid-50s at night before a rainy front moves in for St. Patrick's Day, at least for a few of us, Batey says.

But the silver lining is temperatures will remain in the upper 70s through the weekend.

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