Gas Reaches $3.32 A Gallon
By: Web Producer
Updated: April 7, 2008
Gas Reaches $3.32 A Gallon
(New York, NY) -- The national average for regular unleaded gasoline has reached $3.32 a gallon.
Thats a record high, and up more than five-cents in just the last two weeks.
Worse yet, retail analysts say prices will continue to rise because of increasing refinery costs.
According to the Lundberg survey, gas prices are 53-cents higher than they were a year ago.
People in San Francisco are paying the most for gas right now at an average $3.72 a gallon.
The cheapest gas is in Newark, New Jersey at $3.03 a gallon.
Survey editor Trilby Lundberg says prices will keep going up as refiners pass on the rising costs of crude oil and ethanol.
She says the seasonal increase in gasoline demand is also to blame.
Lundberg says it would take a dramatic drop in crude prices to keep gas prices from rising further.
Since that is not expected to happen, she says motorists can expect to see rising pump prices speeding up from here.
(Copyright 2008 by Newsroom Solutions)
RNS-04-07-08 0246CDT
