STAR/TRIBUNE
By SANDY SHORE , Associated Press
Gas pump prices that are around $3 a gallon now may seem like a bargain by the time your kids are on Easter egg hunts.
Pump prices have risen nearly 9 percent since Dec. 1 and topped $3.10 a gallon this week. That's the highest level since October 2008. The price may rise or fall a little over the next few months, but analysts expect it to range between $3.20 and $3.75 gallon by March and April ahead of the summer driving season.
The national average for regular gasoline about $3.12 a gallon on Friday, according to AAA, Wright Express and Oil Price Information Service. That's nearly 12 cents more than a month ago and 38 cents above a year ago.
Average pump prices range from $2.81 to $3.70 in major cities. For example, the average in Salt Lake City is $2.74 a gallon and in New Orleans it's $2.97 a gallon. Drivers in San Francisco pay $3.44 a gallon, and in Honolulu gas is $3.58 a gallon.
Americans typically drive less in the winter. Demand is about 1 percentage point higher than a year ago but remains weaker than the historical average, said energy analyst Jim Ritterbusch. The nation's gasoline supplies remain above the five-year average.
By spring oil analyst Tom Kloza of Oil Price Information Service expects the average price to rise to between $3.50 and $3.75 a gallon.
For every penny the price at the pump increases, it costs consumers overall an additional $4 million, according to Cameron Hanover analyst Peter Beutel. If the price goes up a dime a gallon, consumers pay $40 million more each day for that increase.
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With gas getting so expensive no one is going to be driving anymore. I think we really need to do MORE research for cars that run on other materials, like ethenol, or even better electric cars. I hope it happens soon...
ReplyDeleteEveryday as we go by Holiday I notice that gas prices keep going up. The price of gas is $3.24 which is very high. With spring coming and gas prices so high again it will mean that people will tighten the grip on there wallets and not travel or take vacations as they need to save for growing prices. People can't afford these prices. I think that if the goverment wants to help the american public they should put a freeze on gas prices. The average american struggles and gas/oil companies get richer everyday. As for me I plan on going green as soon as the bike can come out of the garage.
ReplyDeleteI agree with Tyelyn. I think that the goverment should do something about the oil/gas companies. The cars are more fuel effective but the companies keep rasing the prices to put money in their pocket. They may be blaming the cost to buy the oil but they are just rasing the prices to help them selves. I think that we also should be more green.
ReplyDeletethe goverment isn't the ones being controling the oil prices . the foreign countries that we are getting oil from are controling the prices through tarrifs and taxes they could lower the prices if we get the oil from the U.S. we could control the prices and the price would go down the econamy would grow and we couldget more jobs for your country than putting jobs in other countries
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